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Reenie – this was an old thread that you resurrected. It’s not just income that is a problem – it’s age. I hope you are younger than 50 because once you get to a certain age the insurance companies do not insure anything, let alone loss of income insurance for solos. Loss of income and death insurance is not possible for many of us which is really is frustrating when you have a husband that is still working fulltime at 70 because there’s no point retiring since the financial crisis lost nearly everything. On his 70th birthday he received a letter from the Super company that did not congratulate him on his age, but told him that even his small amount of funeral insurance was not payable now as he was too old. Happy birthday from the insurance company – NOT.

I have never had income protection because I never had a regular income to prove with the same longterm clients. My customers are different each week. Solos are a real problem for insurers.

I do have business insurance however with the NRMA.

So, maybe having a good savings investment plan is a better option for many of us.