Why Income Protection changes set for March 31, 2020 are IMPORTANT for you
The Australian Prudential Regulatory Authority (APRA) recently announced a range of measures to income protection that aims to sustain this important insurance. Here I summarise why these changes are SO important, and why high–income earners and self-employed business owners in mining and resources need to act NOW to benefit from favourable definitions that will be soon be removed. Driven by losses, Australian life insurers who provide these policies are expected to make changes that will downgrade Income Protection insurance benefits from as soon as 31 March, 20201. …
