“All progress is based upon a universal innate desire on the part of every organism to live beyond its income” Samuel Butler
If you were seriously injured and unable to work, what would happen to you and your family? Would you be able to carry on enjoying your standard of living, or would your lifestyle be dramatically affected by a lack of income?
Income protection insurance is a type of insurance policy that will pay you benefits if you are ever unable to work as a result of an illness or an accident. The insurance will pay you up to three quarters of your regular income in the event of an illness, accident or major trauma. It will pay you until you are able to return to work. If you are not able to return to any type of work, you will receive payments until you reach the age of retirement. This means that even if you are seriously injured, you will still be able to pay your mortgage, support your family and keep your finances secure for as long as you need to recover.
There are a lot of factors to consider when choosing your income protection insurance. Each policy is different and offers a range of advantages and disadvantages. When you are looking at the insurance policy, it will state all of the terms and conditions of what it covers and what it doesn’t. The array of choices can be incredibly confusing, which is why it is so helpful to have an expert on your side to help you decide.
At Taylor Brunswick, we can help you to examine your different options and choose the income protection insurance policy that is best for you. We are a dedicated team of experienced financial advisors and we have years of experience with selecting income protection policies. We make it a priority to from strong personal relationships with our clients, so we will get to know you and your situation so that we can offer advice tailored to your needs.
When you are choosing income protection insurance, take the time to make sure that you have the coverage that you need. Hopefully you will never have to use it, but if you do then you will be prepared.
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