Working in IT comes with real health risks. For example, did you know that, according to Safework Australia, serious workers’ compensation claims due to mental health conditions increased by 36.9% in 2022?^^
It’s true. What’s more:
The work time lost was 400% more than that of all physical injuries and illnesses in the previous year (2021).
The average compensation paid for mental health conditions was more than 3 times greater than that of all physical injuries and illnesses.
That’s besides the risks to your professional liability when it comes to data breaches and the ever-evolving IT legislation.
Why does this matter?
Because not being able to work for a while can have a devastating impact on you - and your family’s financial future. Did you know that over half of Australians (58%) will run out of money within six months of being unable to work?*
It’s true.
For more than a third of working Australians (36%), your financial buffer is even thinner, with funds likely to run dry within a week.*
Remember, if you can’t work, it’s tough to renegotiate your debt too - including your home loan.
If you’re struck down by critical illness, or serious injury how long would you and your family have?
Income protection insurance can pay you up to 70% of lost income if you can’t work for a while due to an illness or accident.
You can get covered from under $2 a day.^ In some cases, you can even claim your Income Protection premiums as a tax deduction.** Compare Club can help you compare policies from Australia’s leading insurers.#
COMPARE & SAVESources
^Based on income protection cover for a non-smoking 44 year old IT technician in NSW with no pre-existing conditions, with an 13-week waiting period, and a $4,000 monthly benefit for up to 1 year. Quote correct in August 2024.
*No1 Regret Most Australians Have About their Finances **ATO deductions #Compare Club compares selected products from a panel of trusted insurers. We do not compare all products in the market. The products we compare do not cover all athletic sports. ^^Psychological Health in Australian Workplaces
Things You Should Know
Compare Club Australia Pty Ltd (authorised representative number is 1279036) trading as Compare Club and Advizer Pty Ltd ABN 83 168 993 333 (authorised representative number is 459414) trading as Compare Club Life Insurance and Life Insurance Comparison are authorised representatives of Alternative Media Pty Limited (AFSL 486326). Our advice is general in nature which means it does not take into consideration your personal needs, objectives or circumstances. We will not consider whether the product and its features are appropriate for you. Therefore it is important that you consider whether products are appropriate for your objectives, needs and circumstances. You should also consider the relevant Product Disclosure Statement (“PDS”). Compare Club compares selected products from a panel of trusted insurers. We do not compare all products in the market. For more information about our services, including how we are paid, please read our Financial Services Guide.
