This cover can help you protect your income and secure your future.
Many people approach risk as something that will never happen to them and, as a result, underestimate their need for disability protection. If the process of generating an income is temporarily interrupted or permanently stalled, most economically active people would have insufficient assets to replace the lost income, making disability insurance imperative for most.
Ideally, your income protection benefit should be linked to inflation to ensure that the value of your monthly payout keeps pace with the cost of living and does not lose its purchasing power over time. For instance, you may want to take out lump sum cover that would be sufficient to pay off your home loan and provide for an income during your retirement years, meaning you will need to calculate the amount of money you need to live on for the rest of your life and then capitalise that amount in the form of a capital amount.
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