For an average person, working a 40 hour week from 18 – 65, they will work for 90,240 hours per annum (assuming a 4 week holiday per year). We spend a great deal of our lives working for an income which is highly valuable to ourselves and our families. As most of us are already aware, time is our most valuable asset and can not be purchased.
Income Protection Insurance will provide you and your family with a regular income should an accident occur causing sickness or injury preventing you from being able to work. Income Protection Insurance will allow you insure your current level of income up to a specified level and you can also choose the period to be paid for. This is generally capped at retirement age, which in most cases is 65 years old.
Why is Income Protection Insurance Often Overlooked?
Some believe that their job is very safe so they do not need income protection insurance, however this is rarely the case. There are many issues that can occur preventing us from being able to work and we must remember that we are not invincible. A relatively inexpensive form of protection such as Income Protection Insurance will provide you and your family with peace of mind should an unforeseen event occur.
Many expats also believe that their employers will cover them and they do not need income protection insurance, however it is important to recognise that your employer will pay you for a short time period whilst you are unable to work and that this is unlikely to continue for very long. If you are unable to work for an extended period of time, this will leave you with a large shortfall to meet your ongoing expenses.
Discuss Your Income Protection Insurance Needs Today
Please use the links below to request a quote for income protection insurance for you and/or your partner. We can discuss your own circumstances and the most appropriate type and level of cover for you. You can also book your no-obligation consultation with me below.