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What is Income Protection Insurance?Income Protection insurance provides a regular fortnightly or monthly income replacement payment if you suffer a sickness or injury and are unable to work. Who Should Have Income Protection Insurance?Income Protection insurance is for people who do not have an alternative source of income to enable them to meet their financial commitments if they are unable to work due to sickness or injury. Even those who have the ability to “cover the bills” for a limited period should consider Income Protection as a means of financial protection in the event that sickness or injury makes them unable to work for an extended period, perhaps even for several years or for the rest of their working life. If you are a business owner, Income Protection insurance could facilitate an income payment to you when you are sick or injured, in the event that:
Why Should I Get Advice?Income Protection insurance policies can be very complex products and policy definitions may vary widely between companies. There are also special issues to consider including such things as occupation related issues plus waiting and benefit periods. Your adviser can give you objective information on different products and help you to find the most appropriate policy for your own personal circumstances. Our advisers can also discuss with you how much insurance cover is appropriate for your needs and how much cover will cost. Do Claims Really Get Paid?Yes they do! Some Pacesetter clients have unfortunately found themselves in a position where they have had to make a claim against their insurances and have therefore benefited from having the right PROTECT strategies in place as a result of the advice they obtained from Pacesetter. Would You Like to Know More?If you would like to know more about strategies to PROTECT you and what insurances might be appropriate for your situation, please contact us. |
