| Income Protection- Your Best Friend In Difficult Times |
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| Written by Mike Moon |
| Thursday, 16 September 2010 21:15 |
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People always keep thinking about death and worry what will happen to their family members once they are gone. However, most of us never give much thought to a scenario, where we might lose our income all of a sudden. It can happen and if you were to suddenly find yourself out of work due to accident or sickness which could leave you left struggling financially. A recent survey report shows that every working Australian has a one in three chances of becoming disabled for more than three months before turning age 65 and only 25% could maintain their lifestyle for more than 6 months if they suffered serious illness or disablement. It is a real shame that 70% of people in small businesses do not have income protection at all and a whopping 47% of the small business people surveyed in Australia were completely unaware that income protection is tax deductible.
People always keep thinking about death and worry what will happen to their family members once they are gone. However, most of us never give much thought to a scenario, where we might lose our income all of a sudden. It can happen and if you were to suddenly find yourself out of work due to accident or sickness which could leave you left struggling financially. A recent survey report shows that every working Australian has a one in three chances of becoming disabled for more than three months before turning age 65 and only 25% could maintain their lifestyle for more than 6 months if they suffered serious illness or disablement. It is a real shame that 70% of people in small businesses do not have income protection at all and a whopping 47% of the small business people surveyed in Australia were completely unaware that income protection is tax deductible. It's high time people realize that apart from a good Life Insurance policy, they also need Income Protection Insurance that will give them a substantial monthly income in the event of unfortunate times when they are unable to work due to illness or injury, especially important if this happens long before retirement. INCOME PROTECTION AS IMPORTANT AS LIFE INSURANCE Taking out a Life Insurance Policy to ensure financial well-being of nearest and dearest ones is a common practice amongst most people however few think of Income Protection Cover. Life is very uncertain and a situation can arise suddenly where you are unable to work for a period of time or maybe forever and it is this income protection cover which helps you pull through these difficult times. Every one has some bills that need to be paid every month and on top of that if you have a mortgage on your house or you need to pay installments on a loan that you have taken out then you might land yourself in difficult and tricky financial circumstances. If these expenses are not met timely, you could even end up loosing your home and also see the prospect of having a bad credit rating without proper cover. With proper Income Protection Cover you can ensure that situation does not happen to you so that you have a regular income through the good times and the bad times. It's time you thought about the future of you and your loved ones. Income Protection will allow you to maintain your current lifestyle, even when you are unable to work and don't have a regular and steady income due to sickness or accident. Make sure you have adequate cover. For this visit www.insurancekings.com.au now and insure yourself and your partner today. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. Want to find out more about Life Insurance, then visit David Morgan's site on how to choose the best Income Protection Insurance for your needs. |