Take out protection on your income, in case you may lose your job.

Many of us think about what might happen if we were to lose our job and yet how many of us have actually taken out protection in case this was to happen? Many people won’t have done mainly because although they may have thoughts about losing their job they don’t actually think it will happen to them, losing their job is the kind of thing which may happen in another dimension and so it’s not something they need to protect themselves against.
What would you do if you were out of work due to an accident or illness? There would be very little you could do, especially if a return to work is not on the cards but there is something you could do now before you get to that point, you could take out income protection insurance.
Income protection will payout weekly or monthly tax free payments very similar to that of a wage and are on average 65% of your gross income making the payouts enough to live off. When you take out your policy you will choose how long your cover will pay out for and how long you will have to wait until you receive your first payment.

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