what is income protection insurance ?

[jhon paul]

Income protection insurance pays you a regular income. If you cannot work because of sickness or disability and continues until you return to your paid work or you retire. The amount of income you are allowed to claim will not replace the amount of money you were earning before. You can expect to receive about half to two to third periods of your earnings before tax from your normal job.

• You cannot claim income protection insurance in a straight way If you fall ill or become disabled.
• In this insurance have to wait usually two to four weeks but payments can start up to two years after you stop work.

 

[Mandy96]

Income protection insurance is very beneficial to the people that are on a self-employed or gig worker and so on. Falling in this category means that you will have to bare the consequences that might befall your earnings which could stand as an obstacle. This is a very important plan

 

[Phabbyfundz]

The true importance or benefits of insurance policy to individuals or businesses even companies cannot be overemphasized. Income protection insurance is among the numerous firm or insurance made available to us by insurance companies or insurers. However, this kind of insurance policy often falls under business insurance policy and hopes to give the policy holder a coverage for lost income.

 

[Wisdom01]

But would the coverage fee exceed the premium the person have been paying ,incase if the person falls sick and needs the attendance of the insurance company to cover such risk ,I would really love to know more about such type of insurance , because sickness could occur to the person at anytime

 

[Chibson]

Income protection insurance is definitely one of the best types of insurance premiums because when you are sick or in any form of disability. This kind of insurance is very beneficial to the insurers and it can go a very long way in covering so many expenses. This kind of insurance should be must for workers.

 

[Wisdom01]

Income protection insurance is definitely one of the best types of insurance premiums because when you are sick or in any form of disability. This kind of insurance is very beneficial to the insurers and it can go a very long way in covering so many expenses. This kind of insurance should be must for workers.

Yeah most especially most times when the company fails to pay the worker at the right point in time , the worker won't be too bothered , since there would be an income protection and the worker would get the coverage and that would actually happen , if he have been paying premium too