While a broken arm or leg may not keep you off work, it is an inconvenience and it might put you out of pocket. What would a few thousand extra dollars do for you?

Many good quality Income Protection policies have a feature called ‘Specific Injury Benefit’ that will pay your monthly insured amount for a specific period of time regardless of whether you are totally disabled, need ongoing medical treatment or working. Plus, this benefit is usually payable during your waiting period.

For e...

The 'waiting period' is the time between you becoming unable to work and receiving your first income protection payment. You can generally choose a waiting period between fourteen days and two years. A shorter waiting period usually means a higher premium.

Because most disability events are temporary, insurance coverage for them is cheaper when the policyholder agrees to wait longer before receiving claim payments. For example, if you break a finger, it may only be 2 months before you are ab...