Are you ever afraid that you might lose your job because of an illness or injury? Have you ever heard of private income protection? If not, then it could be the solution for you. By purchasing private income protection, you can protect yourself from losing your income if you ever become injured, sick, or disabled. It can even protect you if you become unemployed.
A private income protection plan is designed to replace your income. It can provide you with a tax-free income if you happen to become unable to work because of a disability. Your private income protection policy will pay you a tax-free income once a month until you recover. It will even do this up until you retire if need be. You can also designate your payout to either be level or rise with inflation.
The maximum coverage that you are allowed is generally half of your gross income. Since it is paid tax-free, you should be able to expect a similar amount of take home pay. Your employer may be able to provide this type of coverage as part of your employment package. You can check the details of it to be absolutely sure.
Why purchase a private income protection plan? How can you afford not to? It can protect you and your family should the unfortunate happen and you can't work anymore. Not only that, it can give you some peace of mind. That should be reason enough. Pick up your phone and call your insurance agent for a quote today. You can even get one online if you prefer to do that.
