What is income protection?
Income protection insurance provides a steady stream of monthly income if you are no longer able to work due to illness or injury. Some policies also offer cover for redundancy.
For most people, their ability to earn an income is one of their greatest assets. Unfortunately, all the responsibilities of being an adult – like paying bills and buying groceries – don’t stop even in the event of an unexpected illness or injury, when we’re no longer able to earn that income. Income protection insurance means that you can continue to receive a regular payment – to keep you and your family covered – in the event that you’re no longer able to work.