Why do I need Income Protection when I have Worker's Compensation from my employer?
Many people believe that a lump sum will be provided through Worker's Compensation if they are substantially incapacitated. However, the truth is that 57% of disability claims are for sickness, while Work Cover does not cover non-work related sickness. Add to that the fact that over half of all serious injuries happen outside of work where Work Cover doesn't apply.
Even if you are able to claim Worker's Compensation, the restrictions on benefit payments are such that you may never be able to retain your current standard of living.
Many people believe that a lump sum will be provided through Worker's Compensation if they are substantially incapacitated. However, the truth is that 57% of disability claims are for sickness, while Work Cover does not cover non-work related sickness. Add to that the fact that over half of all serious injuries happen outside of work where Work Cover doesn't apply.
Even if you are able to claim Worker's Compensation, the restrictions on benefit payments are such that you may never be able to retain your current standard of living.