Income protection encouraged
Norwich Union has embarked on a campaign to raise awareness of the need for income protection policies. It says more than 500,000 Australians were injured at work in 2000 but only 2% claimed from their own private income protection policy.
Norwich Life MD Allan Griffiths said the amount of people whose working life is interrupted due to unexpected illness or injury is of concern, “especially to those whose family relies on their ongoing income”.
Currently Norwich Union pays out an average of around $1.5 million per month in income protection claims.