Income protection insurance ensures a steady flow of income when the policyholder is unable to work owing to accident or illness. Although insurance providers may offer different income protection cover terms, nonetheless, all types of income protection policies pay the policyholder 50 to 65 percent of his/her monthly earnings until the policyholder is fit enough to return to work.
Benefits of income protection cover
Accidents and sickness can occur any time. In the event of severe illnesses and accidents, a person may be incapacitated for several months and in the worse case for years. While sick pay is offered by numerous employers to their permanent employees while they are recuperating, in most cases the financial benefits are available only for a short time.
Benefits of income protection cover
Accidents and sickness can occur any time. In the event of severe illnesses and accidents, a person may be incapacitated for several months and in the worse case for years. While sick pay is offered by numerous employers to their permanent employees while they are recuperating, in most cases the financial benefits are available only for a short time.