Paycheck Protection Insurance is highly underrated in today’s world and there are a variety of reasons for it. Most people are not aware that this kind of insurance exists and what are it’s benefits. In addition, others think this kind of insurance is not necessary. But, one of the smartest things you can do is secure your income with Paycheck Protection Insurance.
What is Paycheck Protection Insurance?
This kind of insurance secures your paycheck when you can not work due to an injury, disability, or illness. By having this type of insurance while you are healthy and working, it will pay you money if you are ever in a situation where you can’t work. With this money, you will be able to continue paying for your mortgage, car payment, childcare, utilities bills, etc. while you’re not earning an income.
Why Is It Underrated?
- Many people don’t know that this kind of insurance exists and what kind of benefits it has. Therefore, they don’t protect their paycheck.
- Others think this kind of insurance is unnecessary because they underestimate their chance of getting sick, hurt, or disabled in their working years.
- People in general don’t like to think of themselves becoming disabled or hurt to the point where they can’t work. So they apply the concept of “out of sight, out of mind.”
- People are misinformed about this type of insurance all together and/or think it is very expensive so they don’t make it a priority.
- Many think they will rely on Social Security to help if they can’t work, but most people get denied the first time they apply. In addition, Social Security has strict rules about who qualifies for benefits.
- It is important to keep in mind that someone could be out of work not just due to a disability or becoming sick. But, can also happen due to a car, sporting, or work accident.
- Many employers offer Paycheck Protection Insurance through their benefits package, but it’s often designed to offer the bare minimum in protection. It is recommended to invest in this type of coverage with a insurance advisor.
- Paycheck Protection Insurance policies can be designed according to your needs, lifestyle, and budget.
Use Paycheck Protection Insurance To Your Benefit
As mentioned, investing in this coverage while you are working and healthy is the trick to having the benefits of this kind of insurance. Once you find yourself in a situation where you can’t work you can use the money you get from the policy to continue paying for the things you want and need.
Our experienced advisors can design your very own policy that will fully protect you when it counts the most. Call us at (800) 788-8921 or fill out our Contact Form to be contacted with an advisor.