What is the purpose of life insurance that provides financial security?
If you become unable to work due to sickness or accident, income protection insurance may help you by replacing a portion of your monthly income. It provides a tax-free monthly benefit and continues to do so until you rehabilitate and are able to find work, until the insurance expires, or until you decide to stop taking the benefit. In the event of a financial emergency, income protection insurance will help you and your family stay afloat financially. Welfare benefits, also known as redundancy insurance, should not be confused with income protection insurance since it provides a totally different sort of protection. Who would benefit from having income-protection coverage? The vast majority of individuals! Unlike other types of insurance, such as life and critical illness, which are often reserved for those with debt (such as a mortgage), income protection insurance is a viable option for practically everyone. If you can't work, you'd struggle to pay your bills. That's bec