Income Protection

What is Income Protection?

This is the most common type of insurance for working individuals. It usually covers you for upto 75% of your monthly income in the event that you are unable to work due to sickness or injury. It’s designed to alleviate financial stress during recovery, offering peace of mind by providing a financial safety net so your bills are paid and there is food on the table until you’re able to return to work.

Income Protection Variables

Income protection insurance comes with many options that can be tailored to suit your individual needs. A combination of different waiting and benefit periods can be chosen to vary the premiums, keeping in mind things such as your level of savings, passive income sources, future expenditure and the likes.

Irrespective of the combination you opt for, the crucial decision is to secure income protection coverage, as financial responsibilities such as mortgages and bills persist even during periods of work inability.