Income Protection

By Drum Digital
27 March 2014

When you are employed you need to consider insuring this asset.

As a young adult your greatest asset is your ability to earn an income and when you are employed you need to consider insuring this asset.

For example, a car accident could leave you temporarily or permanently disabled, and with the unstable nature of the economy and high unemployment rate in South Africa, retrenchment is a very real possibility, even for young people.

‘‘The best way to ensure that you are fully protected against the inability to earn an income is to invest in Disability and Income Protection Cover,’’ says Dubois.

‘’The pay-out for these benefits could be in the form of a lump sum or as a series of monthly payments, depending on the case at hand.

Either way, there’s simply no denying that protecting your future potential income is a smart contingency plan for unforeseen circumstances.’’

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