What is Income Insurance?
Today we will answer the questions: What is income insurance ? Do I need income insurance? Employed or Self-employed income insurance? And we'll discuss the differences between Long-term and Short-term income protection. Income Insurance - What is it? I ncome Insurance is designed to protect you financially should you become unable to work due to an accident, sickness or unemployment. You need to consider if you would be able to keep up with your mortgage repayments and other bills, if you were out of work. What is Income Protection? Income insurance do I need it? The Money Advice Service reported that, "Each year close to a million people in the UK find themselves unable to work due to a serious illness or injury" . Employed You need to consider that if you found yourself in this situation how would you cope? Do you have enough savings to get you by, will your employer provide for you if you are off work, how much are your out...