02 Aug Income Protection-Gives Financial Peace of Mind Right When You Need It
If you and your family rely mainly on your income to pay for your monthly expenses, how do you think everyone will cope in case you become incapable of work for a few weeks because of sickness or accidental injuries? Medical expenses alone can be very expensive, so where else can you turn to in this difficult time? Secure bank loans? But you’ll be more in debt if you do this – if only you have some sort of Income Protection, you’ll have financial peace of mind right when you need it.
Income Protection insurance is a type of insurance that pays you a regular tax-free monthly income if you are unable to work because of injuries or illness. Payout is often provided until you recover and become well enough to work again or until you reach retirement age. This gives you peace of mind, knowing that even without income from work, you will still be able to pay your expenses or protect other financial commitments such as your mortgage payments. Without it, being sick or injured can be devastating as this will not only bring a huge impact to you physically and emotionally but also financially. And if you’re the sole breadwinner in the family, your family will suffer with you. You don’t want that to happen, do you?
So, unnecessary as it may seem at first, especially if you already have a separate Life Insurance policy, knowing these benefits will make you realise that it’s wise to get Income Protection coverage as well.
But since a good number of insurance companies are offering this type of insurance today, finding the right one can be such a confusing task. This is where an insurance adviser can be of help to you.
You can talk to one for advice as to which type of policy will best meet your needs. But if you are hesitant to contact one, you can always do research on your own. Simply request for Income Protection insurance quotes online, compare each one of them, and choose. That easy! Request for a quote today!