Increase Your Financial Security With our Income Protection Cover
If you earn above the COID maximum payment limit our income insurance plans give you the financial protection you need if an injury or illness prevents you from working.
RMA offers a range of different income protection policies, allowing you to choose a plan that best suits your financial and lifestyle needs. Depending on your policy, our sickness and disability insurance pays up to 100% of your net income at the time of the accident for the period you are unable to work until retirement, to a maximum of R7.5 million a year.
- Cover for employees earning above the COID limit
- Earnings up to 100% of net income, max. of R7.5 million/annum
- Optimise your compensation to the right level of benefits for your income
- Child benefits for up to 8 children
- Family allowance for 100% disability
What is income protection insurance?
accident, with cover calculated according to your actual package. That provides peace of mind knowing you will be able to fulfil all your typical month-to-month financial requirements according to your lifestyle.
This removes the compensation ceiling placed by the COIDA legislation. It provides broader and more comprehensive cover than COID, and unlike COID, extends to non-work-related accidents.
How does salary protection work?
Whereas COID insurance will generally cover up to 75% up your monthly earning at the time of the accident, our salary protection plans can cover your full earnings with no maximum compensation limit.
Temporary Total Disablement (Days Off)
Short-term, temporary income benefit or days off benefit for the period of time off work while injured, recovering from injury or during temporary disability. You can receive a cover amount up to 100% of your salary during days of, depending on your disability cover.
You will receive a monthly income until your retirement age where disablement is assessed to be greater than 30%. This monthly payment can be up to your net earnings at the time of the accident.
Death is not covered under income protection cover, but by life insurance and funeral cover.
For over 125 years, South Africans have trusted Rand Mutual Assurance to provide quality, reliable and affordable insurance policies.