Income Protection Insurance is something that will help you when you are not able to work and earn a paycheck. Another common name for it is Disability Insurance. This kind of insurance can come in handy when and if you happen to get hurt or sick to the point where you can’t get up in the morning, go to work, and earn an income.
Where Can I Get This Type Of Insurance?
- An Income Protection Insurance policy is often provided through your employer. But, there is a catch. The policy that your work provides is often full of “holes”. This means that the policy is written in such a way that it is more convenient for the insurance company and not you. So, when you are sick/hurt and aren’t working you will have to follow the terms of that policy you obtained at work (and paid for over time) and many times doesn’t cover you like you thought it would.
- These policies obtained by your employer have many stipulations and limitations. Sometimes they say they will only cover you for a limited amount of time or that certain injuries/illnesses aren’t covered.
- So, if you happen to be suffering through one of those injuries or illnesses that aren’t covered you are pretty much OUT OF LUCK. Or if your illness/injury takes longer than expected to heal or recover from, again you are OUT OF LUCK. That policy you have been paying for and thought you could rely on is pretty much..worthless.
So What Should I Do?
- You can definitely get an Income Protection Insurance policy through your employer, if you’d like. But, because of the “holes” it is wise to invest in a Supplemental Insurance Policy that will cover those “holes” for you so that you will actually be protected and covered when you need it.
- A Supplemental Insurance Policy can be purchased through a Disability Insurance Advisor. They can guide and inform you about the different options that are available on the market in order for you to customize a policy that will be in your best interest versus the insurance company. The advisor can create a policy for you that will take into consideration your lifestyle, budget, and personal circumstances.
- In addition, you can also bypass your work’s Income Protection Insurance and purchase your very own policy from a Disability Insurance Advisor in order to create your ultimate Income Protection Insurance policy that is made just for you. This way, your policy will not have any “holes” because you designed it so that it will give you the income protection that you desire and need.
Getting Started with Income Protection Insurance
Our agents can help you get started with this type of insurance. They can help you create and customize your very own Income Protection Insurance policy.
Fill out our Contact Form or call us directly at (800) 788-8921 to get the process started in protecting your income.