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Finding The Best Income Insurance Plan That Suits Your Budget
Finding The Best Income Insurance Plan That Suits Your Budget
Income insurance provides a steady income stream for those who are unable to work due to an illness or injury.
Sydney,
NSW,
Australia
(pr4links.com)
07/07/2011
Sydney, Australia : If an illness or an injury impairs your health to such an extent that you are forced to remain away from work for months together, it can land you and your family in a situation of major financial distress. When you regular paycheck stops coming, supporting your family and finding money for your own treatment can be an uphill task. Moreover, there is the mortgage and the mandatory monthly expenses to take care of. Workers Compensation will take care of the costs only if your injury occurs at the workplace. The best option available to you is income insurance. It provides a portion of the salary that you earned for the period that you cannot work. The income that you get from your insurance plan can be crucial in tiding over the cash crunch.
According to the National Association of Insurance Commissioners (NAIC), there is a 20 percent chance of males losing out on their salary or regular source of income by the time they reach 35 years of age. Women are at a higher risk of illness or injury with the risk percentage shooting up to 33 percent.
There is an overwhelming affirmation among the working youths that income insurance is a great way to overcome tough financial situations when you are unable to work due to illness or injury. There are many benefits of purchasing the policy, but there are a few drawbacks too.
You cannot receive any income from the insurance provided if illness or injury is not the real cause of your unemployment. Illness caused by criminal acts, drug abuse, alcoholism, internal self-harm, or pregnancy is not covered under the policy. You cannot claim benefit if your injury is due to any of these reasons. Depending on the premium paid, you may have to wait for some time before the benefit actually comes to you because there is a deferred period before the payout happens.
Yet, there is no doubt income protection insurance is the best way to keep the kitchen fire burning and to meet all the mandatory monthly expenses when you are unable to work because of illness or injury. It can protect your family from ending up in situations which can be acutely distressing and embarrassing. You must remember that benefits under this plan are not limited to individuals who are unable to work. It can also cover those who cannot carry out their daily routines without having to depend on others.
You can now find the best online deals available for your type of situation through Income Insurance, an insurance portal that helps you make the right choice from the myriad of options available. They help you choose a plan that not only provides the maximum benefits but is also easily affordable without you having to compromise on your current living standards. The new website of Income Insurance has now gone live and is available for all those who are looking for the best insurance plans.
For more information about income insurance and its benefits, visit www.incomeinsurance.com.au.
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Income insurance provides a steady income stream for those who are unable to work due to an illness or injury.
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