You might think that you don’t need an income protection, but what if you get sick or get into an accident? Does your present job can provide you financial help in case you were not able to work for some time? A quarter of the South African population does not have work and is living in poverty. This is not actually a worker’s market. Surely, you don’t want to find yourself without an income and not getting a job from the time you recover.
You need an income protection insurance. This is a type of insurance policy that protects your income. It will get you protected in case a sudden loss of income occurs. In case you were not able to work for longer periods of time due to illness or injury, you can receive payments of up to three quarters of what you are earning.
The majority of the South Africans has never even heard of income protection insurance. It is not the same with life insurance or car insurance. But there is no need for you to search even further. You can easily find income protection insurance online.
Tips on Finding Income Protection Online
All you need to do is to open your laptop and browse the internet. You can search using directories or search engines such as Yahoo or Google and type in a search term such as Income Protection Insurance and you will be surprised with the results that you can get.
Choose the one that will suit your requirements and budget. With a small budget you can get options such as premium forgiveness, which allows you to cease your payment on your income protection policy in case you are out of work. Affordable plans have a late payment period where you don’t start getting money until some time after you have ceased working.
This option provides other benefits to cover you while you are sick or on vacation. For various premium rates you can have short-term coverage for short term or long term plan that may cover you in case you cannot work for several years.
Getting Income Protection Online allows you to make a comparison easily. Instantly, you can see features of different agencies and different plans, which provides you the capability to narrow down a coverage that will suit your budget and requirements.
The majority of the insurance companies online can provide you quote instantly and some may ask you to sign up first in order to get quotes. Some insurance companies may provide quotes and then make an appointment to meet with the local agent later.
The best thing that you can do before deciding which income protection coverage to choose is to compare what other companies should offer. It is important that you decide only on the best coverage that will suit your budget and your requirements. Make sure that the coverage you choose will help you maintain the standard of living you have during your working life. South Africans should be aware of the importance of the income protection insurance.