Insurance for Teachers, Tutors and Lecturers
You'll spend a lifetime helping other people to achieve their full potential, so you should recognise the value of your own. As an education professional you probably work long, challenging hours and may not always receive the recognition you deserve. Life insurance gives you an opportunity to acknowledge your worth and protect the home, lifestyle and retirement you work so hard to earn.
There are two main options for income protection policies: 'agreed value' and 'indemnity'. Indemnity policies are generally cheaper and typically allow you to insure up to 75% of your income. Should you be injured or fall ill the amount you can claim will be based on your income during the year before the claim, up to the limit agreed in the policy. If you have stable, long-term employment and a steady income, an indemnity policy may be a practical, economical way to protect your lifestyle.
Teaching or lecturing can be a demanding vocation, and many education professionals suffer a stress-related illness at some point in their career. Most income protection and TPD policies provide protection for mental illnesses where there is no previous history.
If you suffer an illness or injury you may need access to expensive rehabilitation facilities to help your recovery. Many of the insurance companies we work with offer a wide range of free rehabilitation services to help you get back to work after a claim, including physical, vocational and psychological therapies.
An increasing number of educational professionals are choosing to move their superannuation assets from an industry fund into an SMSF. There are a number of benefits to managing your own super, including the option to increase and broaden your life insurance cover. Careful structuring of your life insurance policies through your SMSF can allow you to take advantage of substantial tax savings, although it's important to seek expert advice since there are some potential downsides if you don't get the structure right.
Contact us today for free, unbiased advice on choosing and structuring your life insurance cover.
We work with all the leading providers of Life Insurance in Australia. Our advisors can tailor your life insurance individually for you, using products from any of the leading life insurance companies in the market.