“I need help with income protection insurance”
Have you ever thought about what you would do if you had a serious illness or injury and couldn’t work for an extended period of time? How would you pay the bills, or support your family? It’s probably something that’s crossed your mind a few times but is often put in the ‘too hard’ or ‘I won’t need it’ category.
Here’s why we think income protection insurance is worth it, and why you should stop putting it off today.
You never know when you could fall sick
In the event of you falling ill or getting injured and being unable to work for a prolonged period of time, income protection insurance means that you will continue to receive income. Depending on the policy, it kicks in once you are out of work after about 30 – 90 days, and you’ll continue to get paid monthly until you are able to return to work.
Income protection insurance can replace up to 75% of your monthly income for a set period of time. You may receive this benefit for a few months, or until a nominated age, again dependent on your policy, and the insurer.
Take comfort knowing you can retain your lifestyle
Why should you stop putting it off? It’s simple – for peace of mind. There would be nothing worse than being stuck without income and needing to support your family or even support yourself on top of the medical bills piling up.
By signing up to an income insurance policy, you’ll ensure that you can continue to pay off your mortgage or rent, stay on top of debt and bills, give your family reassurance, have the financial backing to focus on recovery, maintain your current quality of life and so much more.
Get some expert advice
If you’ve been avoiding the all-important insurance talk, but know that you need to get it sorted, talk to an expert. An expert can independently advise you on the right policies for you, help you out with the paperwork and even submit claims when need be.
At Rising Tide, your finances are important. We’re here to help you put together an effective financial plan to support you on your way to achieving success.