They don’t provide income protection like the used to in the past.
They don’t provide income protection like the used to in the past.
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
Evolution of Income Protection
If you’ve currently got an income protection policy and you’re doing a review on it make sure you speak to your financial adviser. Over the year’s there as been an evolution of income protection and unfortunately due to government regulation the type of cover you can get has been watered down. So you you have a current policy, it’s probably a better policy than what you can get today.
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.
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