As the breadwinner of the household, I have this fear that if something unfortunate happens to me, my family would be left in a financial lurch. While I do have some savings, FD and stocks, I know that my family, especially my dad, would not know how to manage a lump sum of money and no matter how much I have would not be enough for them to utilize until they have found another income source.
I have contemplated getting life insurance but have procrastinated for about two years already. Somehow, I don't think that it's that suitable. However, I came across income protection insurance today and realize that this is the kind of policy that I have been searching for. How come my agent failed to mention it to me?
Income Protection Insurance is an insurance that protects one's income and it protects up to 75% of one's income in the unfortunate event that the policy holder is ill or involved in an accident and unable to work and income is affected.
InsuranceLine offers Income Protection Insurance to Australians, or Permanent Residents of Australia, who are aged between 18 to 55 and are employed for at least 20 hours a week. The self-employed also qualify if they have been so for at least six months. Virtually any adult would be eligible to get some level of coverage.
I have contemplated getting life insurance but have procrastinated for about two years already. Somehow, I don't think that it's that suitable. However, I came across income protection insurance today and realize that this is the kind of policy that I have been searching for. How come my agent failed to mention it to me?
Income Protection Insurance is an insurance that protects one's income and it protects up to 75% of one's income in the unfortunate event that the policy holder is ill or involved in an accident and unable to work and income is affected.
InsuranceLine offers Income Protection Insurance to Australians, or Permanent Residents of Australia, who are aged between 18 to 55 and are employed for at least 20 hours a week. The self-employed also qualify if they have been so for at least six months. Virtually any adult would be eligible to get some level of coverage.
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