Helping protect our farmers
Income protection can be challenging to source for farmers with income often varying from year to year. In the market, the most common cover offered by various life insurers is ‘Farmer Protection’ covering a maximum payment of $5k per month for 5 years, should they be unable to work.
After speaking with the farmer and his accountant, we were able to provide 2 years’ worth of business and personal tax returns that convinced the insurer to offer agreed value income protection to the client.
Steadfast Life used its scale and underwriter relationships to ensure comprehensive income protection cover and guarantee payment of the monthly sum insured at the time of claim.