What does Income Protection Insurance Protect me Against?
Income protection insurance will protect your income against:
A salary protection plan does not cover redundancy. It only provides for replacement of income if you are unable to work for a reason that is medically certified.
Why do I need Income Protection Insurance?
If you are unable to work due to injury, illness or disability, you need to have the financial security to be able to stay on top of your bills and maintain your lifestyle.
If you do not have an alternative source of income, how would you maintain the lifestyle that you’ve gotten used to living?
You may be entitled to the state illness benefit, however this is likely to equal only a fraction of your income. To find out more about the state illness benefit and how much you would be likely to receive, click here.