What is It and How Does it Help You?
You can expect a tax-free income as replacements on a regular basis through Income Protection Insurance. This comes in handy when you’re rendered disadvantaged due to illness, accidents, injury, or when you lose your job.
This helps you continue without delaying your mortgage payments, in addition to general living costs when you restart your employment.
There’s always a waiting period to policies before they pay out, usually beginning with when you’re rendered incapable of working. Long time periods come with lower premiums. We suggest you try and determine what you’ll be paid by your employer and what state benefits might apply to you prior to selecting the waiting period for your policy.
The payment of your premiums depends on several factors, such as your age, employment, health, and the income you’re looking to protect.
An income protection policy saves income losses that often accompany untoward illnesses and injuries that occur during your work life, and which can directly affect your family and dependent’s.