Income Protection- Critical Questions Answered

  Income Protection is a necessity for every employed citizen, but are you sure you know what you’re paying for? We have compiled a short list of the most important questions to ask your financial advisor regarding your income protection cover. We hope this will make you feel confident and wiser when meeting with your financial advisor in the near future. How much of your income do you want covered? Under most circumstances people require their entire income to maintain their current lifestyles.  When choosing the amount of income protection it is of utmost importance to make sure that you choose enough income to pay for your daily needs expenses.  Most insurers provide a maximum of 75% of your salary in the event where you are unable to work.  If there is a 100% income option available, it would be best to make sure that you have enough cover. Are you sure cheaper insurance is the way to go? In the event that you choose the more affordable option, make sure that you fully understand the benefits you are entitled to.  If you are still uncomfortable with the product, and require more information, you must discuss this with your financial advisor who is responsible for explaining the products to you. Whenever we hear the term ” physical impairment” or “disability” we seem to only think permanent illness. So many people seem to overlook the fact that not all ailments are permanent.  There are many other incidents where people are unable to work for months, due to a vehicle accident, but are able to return to work eventually.  But, how...