Income protection policies these days help an individual in many more ways than just providing a replacement income. The policies are laid down in such a way that they are always there to help you whenever you need some.
Now the question arising for many unaware people is that what do we mean by income protection? The income protection insurance policies are designed such that they provide you a monthly benefit of 75% of your income once your waiting period is passed.
The plan is to ensure that the customers are able to pay for their monthly expenditures like bills, rent, living expenses etc. in the event when they are not well and cannot go to their work. The income protection policies are 100% tax deductible.
The policies are unlike trauma insurance in which you need to match a set of conditions to be eligible for the insurance. In this plan, the only condition is the genuine reason for you not working.
The insurance company also helps you to get back to work. Keeping in mind the case in which a person might have taken a long period off work, he might have lost some skills and training. To ensure that you get back on track, insurance company provide some rehabilitation facilities.
The life insurance company pays for your rehabilitation incentive but the condition is that they need to be first approved by the company. The program must be an organized and well-structured back-to-work program. Please note that this benefit does not include facilities like providing artificial limbs and travelling or education expenses.
The advantages and attractive features of the income protection policies do not end here. We bring to you’re an add-on of Rehabilitation Incentive Benefits. Some life insurance companies include a once-off benefit if you are able to return to a regular full-time paid employment for 6 months after attending the rehab program. Again, this needs an approval from the life insurance company.
So be prepared for any mishap. Plan wisely and if you need any help in your distraught conditions, we are here to ensure that you still can avail the basic necessities to lead a normal life. The company understands that individuals might have to face any kind of atrocities in life. Hence, if you are unable to go to work and earn for your livelihood, contact us and get your income protection done today. Talk to an insurance broker today to see what kind of income protection products is included in their policy.
Be prepared for the worst scenario and secure your future with us! As they say, it’s never too late.