Income care

Income Care provides affordable protection against loss of income, should you become sick or injured and unable to work.

Income Care replaces a proportion of your income if you are totally disabled through sickness or injury and cannot work. The basic cover allows you to insure up to 75 per cent of your income and offers a range of waiting and benefit periods.

You can tailor your Income Care cover by taking up any or all of the following optional benefits:

• Increasing Claim Option
• Accident Option
• Super Continuance Option
• Cash Back Option
• Premium Saver Option

You also have the option of including Business Overheads Cover, which is specifically designed for self-employed people. This cover ensures the eligible fixed operating expenses of the business can still be paid, even if you are unable to work because of sickness or injury.

Affordable coverage
Premiums are based on considerations including your age each year, health, gender, occupation, smoking habits, waiting period, benefit period and sum insured.

Tax deductibility
The premium for an Income Care policy will generally be an allowable deduction from your assessable income under Section 8-1 of the Income Tax Assessment Act 1997. This deductibility applies whether you are self-employed or an employed person.

• Important Information
  Please refer to the relevant Product Disclosure Statement for full details of these benefits and when they are payable.
  As this advice has been prepared without considering your objectives, financial situation or needs, you should, before acting on it, consider its appropriateness to your circumstances Income Protection, Life, Business Overheads, Total and Permanent Disability (TPD) and Trauma are components of CommInsure Protection. CommInsure Protection is issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 (CMLA). CMLA and the Trustee are wholly owned subsidiaries of Commonwealth Bank of Australia ABN 48 123 123 124. Commonwealth Bank of Australia does not guarantee the obligations or performance of CMLA or the Trustee or the products they offer.
  Product Disclosure Statements (PDSs) describing CommInsure Protection is available from your Financial Adviser, by downloading them from this website or by calling 13 10 56 (from overseas call +61 13 10 56) and should be considered in making any decision about these products.
  Commonwealth Financial Planners are representatives or authorised representatives of Commonwealth Financial Planning Limited ABN 65 003 900 169 AFSL 231139, a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124