Have you ever thought how you would pay your bills if an illness or injury prevented you from going to work? For most of us life could come to a standstill. The problem is that a great majority of us tend to consider ourselves invincible and invulnerable to life’s eventualities. This might be because some of us are in great shape physically, some are single, some have no children or dependents or we may be adequately covered by our employers. The truth is, regardless of our status in life, Income Protection is absolutely relevant for anyone who needs to work for a living… which is ALL of us!
Income Protection Insurance is designed to give us peace of mind knowing that we have something in place to protect ourselves against the unexpected. In the event of an accident or sickness that prevents us from earning an income for a prolonged period of time, Income Protection can step in and help us keep up with our mortgage payments, loans, school fees, credit cards and other everyday living expenses.
If we are single or without any dependents, it could also mean that we have no one to lean on during a financial crises. Income Protection is a product that will ensure that our lifestyle is maintained even when our income stops flowing.
We may be covered by a good sick pay scheme provided by our employer, but often such payments tend to be for a limited period. Besides, the benefit provided by the state, if we qualify, may not be enough to cover all our expenses.
If an illness or injury prevents us from earning an income, most of us would run out of money within the first three months of being out of work. Uncertainties are part of our human existence but when they prevent us from working and putting food on the table, life could turn out to be an unpleasant ordeal. Adding Income protection to our financial planning can guarantee that our lifestyle will not be compromised when we need it the most. Invest today for peace of mind tomorrow.
