Many people operate on the misconception that because they are employed there income will continue if they cannot work due to a serious illness. In the majority of cases this is not the case. The reality is that for people over 40 years of age 80% of disabilities are as a result of an illness. In addition only a very small percentage of accidents are work related.

Amazingly it is considered the normal procedure to insure a car, a house and the contents of the house but most people do not consider protecting their income. To put this in perspective a person aged 30 who earns $46,000 per annum will earn $1,279,460 net before retiring at age 65.

Most people cannot afford to lose more than 1 month of their salary without suffering undue hardship. Even with the standard sick leave entitlement of 10 days if you become serious ill then you could be in serious financial trouble.

What can you do to prevent this? Income Protection Insurance can provide you with up to 75% of your gross income whilst you are unable to work due to illness or injury.

Consider, Is it more important to protect your car and house or is it more important to protect the money you earn?

Income Protection can protect your future income even if you are unable to work ever again. The cost of the insurance depends on many factors including age, occupation, smoking status and gender however in many cases the cost is less than insuring your car. Income Protection is also tax deductible.

You can rely of family, friends or even the government to support you. Or you can be independent and protect your financial future through income protection.