Importance of Income Protection
We all know that accidents and serious illnesses can happen. If something unexpected does happen, you want to protect what’s important. Having your income protection cover in place gives you the financial freedom when you need it most.
Income protection is designed to help keep your life on track while you can’t work due to sickness or injury. It provides you with a regular income for a nominated period of time. Having this monthly payment allows your household to keep running and takes the financial pressure off you, so you can focus on your recovery.
Helping Warren with his recovery and ensuring that his business continues to run
Warren owns and runs an Arborist business. Warren had put in place his income protection and business expense policy in May 2017.
On a Saturday afternoon in June, whilst doing some simple home renovations, Warren fell off his ladder and landed on his shoulder. He had to have immediate surgery on his shoulder and was unable to work in the short term. As an arborist and a business owner, it means he cannot do a number of his main duties.
Warren made a claim under his income protection and business expense policy which will pay his loss of income whilst he is in recovery. Warren is aware his recovery may take up to 6 months, but he can continue to focus on his rehabilitation, knowing that his household and business can keep running.
There are many forms of income protection and life insurance policies that can be taken out. From covering just business expenses, trauma cover or covering your partner, even if they are not working but are still earning an income from you to your normal income protection and life insurance policies.
To find out more or to tailor the right policy for your best interests please contact Fitzpatrick & Co. Insurance Brokers and they will ensure that should an incident occur, money and income will not be a problem for you.