Occupation matters when it comes to income protection.

Income protection will pay you an income should you not be able to work due to sickness or accident.

There are many different variables to income protection, each of these variables have an effect on what you are covered for. Some of these variables include

• Waiting period
• Benefit period
• Amount you can be covered for
• Payment structures
• Tax on income protection
• Occupation
• Evolution of income protection

In this series, I’m going to break down into bite sized chunks these different variables.

Occupation

The way you derive your income is an important factor when considering income protection whether you’re white collar or blue collar. There are even some occupations where you can’t even get income protection cover at all because you are seen as too high risk.

The best thing to do is to speak to a financial adviser if you’re in a high risk, such as a pilot occupation and see if you can actually get any income protection insurance.

If you are interested in finding out more about income protection or if you have any questions, send me a message and we can have a obligation free consultation.