BTBT has joined the ranks of insurers offering upgrades to their policies. From March 2012, BT Protection Plans have expanded to offer a range of products not widely offered in the market. The most interesting benefit now offered is a Home Duties Income Protection benefit offering and income protection for home makers.

This style of product has been hard to come by and fills an under serviced area of the market. Historically with homemakers and individuals who primarily conducted home duties, suffering an illness or injury that rendered them unable to fulfill normal domestic duties meant the main income earner reducing their hours or taking time off work totally to care for the homemaker and to assume the day to day activities of running a family. The loss of this main income through care of the individual who conducted home duties undoubtedly left families in financial difficulty. In addition, for single parents, the loss of good health and the ability to conduct home duties can mean an inability to provide ongoing going care to children.

BT Protection Plan now offers two products providing income protection for home makers and individuals who primarily conducted home duties;

  • Income Protection Plan
  • Income Protection Plus Plan

Both policies will pay a benefit of up to $5,000 per month, if as a result of illness or injury, the home maker is unable to perform normal home duties. This benefit can be paid for up to 2 years per event. In addition to this, the Income Protection Plus policy will provide an automatic payment of 6 months benefit if they suffer a traumatic event, regardless if they are able to perform the home duties or not, providing more certainty for major trauma events.

Other features of the policies include;

  • Worldwide 24/7 coverage
  • Death Benefits
  • Loyalty Benefits
  • Premium Holiday –a ‘pause’ on the policy during financial hardship

BT Protection Plans also allows a ‘Children’s Benefit’ under their income protection for home makers, allowing homemakers to insure their children for lump sums payable on listed major events. This already is a popular feature with insurers and is a welcome additional option to the Home Duties Income Protection, allowing home makers to protect children under a combined policy at low premium rates.

In all, the broadening of BT’s Protection Plans to home makers will give families more options to protect their financial security, by not only protecting the worth of the home maker, but ensuring that main income earners can continue to provide.

Looking to compare Income Protection for Homemakers?

MoneyGeek wants to make sure our readers get easy to understand information to assist make the right financial decisions. Hand in hand with knowledge is advice – MoneyGeek has teamed up with Keyperson Insurance to provide Income Protection quote comparisons and advice for Homemakers. For trusted, confidential and individualised advice, complete and enquiry and an experienced adviser from Keyperson Insurance will be in contact to discuss your details.


About the Author – Benjamin Irons

Benjamin Irons

Benjamin has been involved in the financial services industry since 2004. Benjamin has a Bachelor in Business, Diploma of Financial Services (Financial Planning). Previously a Financial Adviser and a business owner, Benjamin has worked with hundreds of individuals and businesses to implement simple strategies to improve wealth. Benjamin writes for a number of websites to assist people take control of their finances and find their financial freedom!

Follow Me: twitter facebook googleplus


Leave a Reply

Your email address will not be published. Required fields are marked *