Income Protection

INCOME PROTECTION

INCOME-PROTECTION-1

Income protection is protecting the particular person’s incomes who are unable to work due to some reasons such as illness or an accident. This becomes one of the compulsory situations where one needs to take care of himself and his family by protecting their future.

INCOME-PROTECTION-2

So, one must ensure to protect their income by taking income protection insurance which helps in paying you if you are unable to work , reason can be long term injury , illness or any disability.

Income protection helps in paying you till retirement, death or till the time you return back to your work. These policies are also available at fewer prices according to the situation. These payout are based on percentage of your earning and they are not chargeable under tax . The benefits are paid usually weekly or month wise.

INCOME-PROTECTION-3

Income protection insurance is not payable under following factors:

– If policyholder is unemployed due to some other reason except accident or illness.

-This policy is not applicable on drugs / alcohol, war or committing self-harm.

-When the person changes his occupation then this policy is not applicable.

-For pension holding this is not applicable.

Therefore in the end we can say that- Income protection insurance policy pay you until the particular person is back to his work.

INCOME-PROTECTION-4