INCOME PROTECTION INSURANCE POLICY

Income protection insurance policy is long-term insurance policy. This covered you if you can’t work because of your injuries or illness. No one want to think that something bad happen to them, but millions of people find themselves unable to work due to some serious injuries or illness. If you can’t work because of serious injuries or illness how could you manage? How could you survive on saving, and how could you pay from work? If you can’t then you have to take an income protection insurance policy. It replaces the part of your income if you can’t work its pay out until u start a work again. Either in short or long term it covered most illness which makes u unable to do work.

The cost of income protection insurance policy is depending on the policy and circumstances. Basically its cover wide ranges of illness and situation which potential to pay out for many years.

The cost of income protection insurance policies vary based on these following factors:-

-          age

-          smoker or non-smoker

-          the percentage of income you’d want to covered

-          health

-          weight

-          family medical history                

You need this insurance policy if you’re self-employed or employ and you don’t have sick pay to fall back on.

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