Income Protection Insurance

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Income Protection insurance aims to protect your income in the event that you become disabled or is unable to work due to illness or injury. This cover ensures a steady stream of income on a monthly basis of up to 75% of your current gross monthly income. The premium from this policy is tax deductible under Section 52 of the tax assessment act as an expenses incurred to provide a taxable income. Apart from the business owner, a business expense policy can also be included, covering business expenses such as:

income protection insurance

  • Rent
  • Electricity
  • Telephone
  • Legal fees
  • Accounting fees
  • Salaries
  • Other overheads

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