Importance of Income Protection Insurance

Importance Of Income Protection Insurance

 Why do you need income protection? Is it worth paying

premium for? …are some of the plaguing people both young and old.  Here are reasons on why you need income protection plan.

ď‚— First main reason to opt for an income protection plan is

Predictable future at least financially. ď‚— You would be confident and happy that no matter what

happens at least your income is assured.You will never find yourself in dire straits in financial terms

Peaceful Future  You can’t underestimate the importance of peace of mind.

It’s easy to think your income is going to be a permanent fixture in your life – if you’ve got a stable job, why should you worry about losing your stable income, right?  The future may hold nasty surprises like illness or accidents

and it’s good that some things remain stable in your life.

Pay Your Bills Regularly  Loans repayments and also monthly expenses are covered as

you can insure for up to 75% of your income.  This gives you chance to pay off your vitals like regular bills

and food expenses loan repayments extra.You don’t have to borrow further money for the period of your illness

Enhanced Safety ď‚— Income protection plan can be purchased along with other

insurance plans to provide extra safety. In case of death there is life insurance payout that can take care of the bills that your family has to pay and they can rest easy. ď‚— This is crucial coverage and in addition to that if you have

income insurance you are completing the circle of coverage completely.

ď‚— In case of injury at work place payouts are given only in case

of negligence from employer. In case the payouts are delayed or even denied this income protection plan can tide you over. ď‚— So even if you have work place insurance it is still better to

have income insurance as it can complement your pay out.

Channel Your Energy To Getting Back To Good Health  When your basic needs are taken care of you can really focus

on getting back on your feet.  Stressing about your finances is the last thing you should be

doing.  Recuperation from illness of any sort takes time.

ď‚— You need not hurry up that time and can really focus on

recovery. ď‚— Lying on a hospital bed and worrying about car repayments,

mortgage and credit card is not going to help you at all!

Live an organized life ď‚— This is true for all spheres of life, when you are organized in

every way; life just becomes easier to live.You should anyway put aside some money for unforeseen emergencies like this anyway. ď‚— This is just a more organized way to do. Think of the

premiums as another essential bill to pay. It will certainly make you glad you did.

 People always think that accidents and illness always happens

to other people. Do not be one of them. Pray and work on good health but “keep the gunpowder dry in any case”!  Visit Manning Financial, the

qualified financial advisor in Cork, Ireland. They provide expert financial advice on life cover & business protection, retirement planning, saving & investments, personal pension and also about income protection in Cork.