Income Protection insurance helps replace your income if you can’t work because of sickness or injury. You can select the type of cover that suits your need as all companies offer a full range of cover options to suit employees and the self-employed alike.
Consider this if you were lucky enough to scale that bean stalk and score a Goose that laid golden eggs, what would you insure? Each time the Goose lays you an egg would you insure them OR would you insure the Goose? Yes you would insure the Goose as without the Goose you won't get any eggs.
We are that Goose, we are laying these eggs by going out and working, earning money and then buying our eggs in the way of Cars, House, Jewelry, TV's etc. Once we have these items we insure them but if we were ever to lose that income then we are just going to slowly lose all those assets to continue living on or have them just taken away if we had loans and mortgages to pay.
Premiums are calculated by your occupation and your amount of monthly benefit. Most companies allow you to insure a maximum of 75% of income with a few allowing 80%. You also can choose benefit periods from 2 yrs to To Age 70 and waiting periods from 14 days to 2 years to suit your needs. You can even have a day 1 waiting period if you are off work from an accident.
There is all this flexibilty so talk to us now.
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or Contact Darren Cheek to discuss your needs
Dip(financial Planning) Authorised Representative 238583