The Need For Income Protection
Alan is the CEO of a large distribution company based in QLD. He is 56 yrs of age with 2 adult children.
Out of the blue, Alan was rushed to hospital complaining of chest pains. Upon arrival in the emergency ward, doctors inserted a temporary stent in one of Alan’s blocked arteries.
He was later advised that he would need to undergo triple bypass surgery. The surgery was a success and Alan was advised to take at least 3 months off work.
Fortunately Alan had taken out I.P cover many years earlier, Although he considered canceling the policy several times due to the increasing cost.
Alan was off work for 3 and a half months and received 75% of his income for 2 and a half months (30 day waiting period).
Although Alan did the right thing by taking out Income Protection, he neglected to take out trauma cover which would have paid him a lump sum as he was diagnosed as having a minor heart attack before arrival in hospital.
Ask yourself this….
- Will your income continue if your sick or injured?
- If you cannot work in the next 6,12 months or 2 or 5 years what would happen?
TheInsuranceQuoter.com.au can help you find a policy that suits you. Contact us today.