New Professionals Offer
It is now possible to apply for up to $15,000 per month on an agreed basis from insurance companies if you are a newly qualified (in the past three years) professional. The maximum amount is dependent on your occupation.
While many newly qualified professionals such as doctors, dentists, surgeons, other medical professionals, lawyers, barristers have significant earning capacity, they are unlikely to have complete financials to support their income. Their earnings will also increase significantly over the early period of their working lives.
As a result, Tower provides higher levels of cover for new professionals without the need for the usual financial requirements.
The new levels of cover are available to newly qualified professionals who became registered or licensed within the last three years, are working full time and generating an income in their occupation.
Maximum levels of cover
The mandatory financial evidence requirements for the New Professionals Package is waived for set maximum amounts for Income Protection, Critical Illness, TPD and Life insurance subject to underwriting and disclosures on the Accelerated Protection application. The table below shows the maximum levels of cover (held industry wide). Any amount below these maximum amounts is accepted.
This offer ultimately enables you to set your Income Protection up at an early age, even before you can show past earnings history and therefore lock in your risk level with the insurance company. There is a further positive in ensuring.
If you believe that you fall in this category, please contact us and we look forward to assisting you.
After having had my income protection, with a company based abroad, for the last 15yrs I recently decided to sort it here in Australia.(Now based here so it makes sense.)
Needless to say the thought of trying to get a similar product for a good price was a concern....
Dr S.T (BDSc)
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