You can not guess about your future. Future is uncertain you can not knew about future what will be happen after 5 seconds or 5 hours or 5 days. Income protection insurance is a type of insurance that can be beneficial for you if you want to protect yourself, your family and your investments from the unstable life. I give here the main benefits of income protection insurance that you can do for you if you use this.
1. Your lifestyle not affected.
75 percent of your insured income covers by Income protection insurance. This means that it save you from your working either in the case of serious injury or illness and without affecting your lifestyle you can keep your lifestyle too. Suppose you are injured or you are in illness can you pay your bills, mortgage or any installment on time? These are the benefits provide by the income protection insurance.
2. Protecting your savings and investments
Income protection insurance also protect your savings and investments. If you are sick or big injured then think how you will pay your payments of your loans or mortgage or how much time you can continue your payments? If you can not work and have no steady income, maybe they could lose not only their investment but also your home. If you need more leverage a regular salary, you may be forced to sell stocks and other investments that have worked hard to build over many years. As cost reduction can save money if you have mortgage commitments and others, the only thing you can take is six months without work you lose your pool of savings and investment.
3. The likelihood of injury or illness
Consider, if you can afford to be without work for weeks, months or even years.
While the Australians one of the best living standards in the world, according to latest figures from the Australian Bureau of Statistics, more than half a million people suffer from work-related injuries or illness each year. From small to large lesions, these figures reflect the risk of serious injuries to any person in any place inside or outside of work. Whether the disability temporary or permanent disability, income protection, such as life insurance, can help eliminate the risk that you and your family suffer serious setbacks and mitigate the effects of a major earners unable to support the family.
5. If you have dependent children
Your dependent children will not suffer any loss or face any problem if you have income protection insurance policy. If your job is leave due to illness or a big injury can be discontinue their studies. But with the help of this insurance you can pay your children’s tuition fees, expenses and preserve their way of life, even when you can not work. This is the best benefit of this insurance you have no tension about their children’s future.