Protect your ability to earn #finance #earning

It's important for anybody to have income protection in place. In Australia you can ensure up to 70% of pre-disability income and if you are the major breadwinner in your family, ensuring that 70% is really important. But for anyone, our biggest asset is our ability to produce income, so ensuring that ability is hugely important.

Like I said, up to 70% of income protection is available. You can have that inside super or outside super. If you have it outside super, it is a tax deduction to you as well.

So if you're a high income earner, it's a great way to reduce your income tax. And inside super, it's just there tinkering away, paid for by your super, so it doesn't affect your cash flow, but it is one of the most important personal insurances to have in place.

General advice only.
Amy Lehmann is an Authorised Representative (No. 1292710) of Consortium Private Wealth Pty Ltd (AFS Licence 495401).

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