Income Protection Insurance – Stay Calm When You Are Out Of Employment

No other insurance will cover your monthly earnings in case you are made redundant

. An insurance company will provide you a portion of your monthly earnings, roughly around 60 to 75% of your salary will be paid out to you. You are free to make use of your income in any way. Pay off your medical expenses, grocery bills, mortgage payments etc. If you have taken a right policy on time, you can relax even in times of redundancy. Normally, insurance policies last for between One and 5 years, after which you can reassess your need to re-insure. Premiums, the cost of which differs from insurance company to insurance company, are paid monthly.

Income Protection Insurance Stay Calm When You Are Out Of Employment

By: Kirthy Shetty

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