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What's a benefit period?

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The benefit period is how long the monthly payments will last if you remain unable to work due to your illness or injury.

Most income protection policies offer 2 or 5 years, or up to a specific age such as 65.

Generally, the longer the benefit period, the more expensive the policy. But it also means greater protection if you're unable to work for a longer time.

Find out more at ASIC MoneySmart.

 

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