Income protection insurance
Do you have enough to pay for what you need now and in the future? Income protection insurance
WHEN LIFE THROWS UNEXPECTED challenges our way, such as severe illness or injury, the impact can be emotionally and financially overwhelming. While it’s never pleasant to contemplate misfortune, it’s crucial to consider how you would cope if a severe health issue left you unable to work. Would your savings or workplace sick pay be sufficient to support you and your family? If not, it’s time to explore income protection insurance as a viable option for covering your expenses during such times of need.
SAFETY NET FOR THE UNEXPECTED Income protection insurance is a long-term safety net, providing monthly payments if you cannot work due to illness or injury. This coverage typically continues until you can return to work, retire, pass away or reach the end of the policy term – whichever comes first. To tailor the policy to your financial needs, you can choose when payments begin, typically after sick pay ends or other insurance coverage ceases. Opting for a more extended waiting period can result in lower monthly premiums, offering flexibility based on your current financial situation.
COMPREHENSIVE COVER FOR PEACE OF MIND This insurance covers a wide range of illnesses and disabilities, both short and long-term, ensuring that you are protected regardless of your incapacity. As long as your policy is active, you can make multiple claims, guaranteeing continuous financial support throughout your recovery journey.
WORKPLACE SICKNESS BENEFITS While some employees enjoy generous workplace sickness benefits until their intended retirement date, others might need to rely on state support, which can be challenging. Income protection insurance provides a tax-free monthly income up to retirement age if you cannot work due to long-term sickness or injury. This ensures that financial struggles prevent you from dipping into savings or incurring debt.
TAX-FREE INCOME TO ALLEVIATE FINANCIAL STRAIN Income protection insurance aims to restore your financial situation to its preillness state without allowing for undue profit