Disability Income Protection Insurance
Life can be unpredictable, and thus it’s essential to plan for the unforeseen. This is particularly true for those with families, and those who are the main breadwinners in their households. Your income is able to provide your family with all the necessities it needs to flourish – but what if the unexpected meant that you were no longer able to work?
Hollard provides affordable disability income protection insurance that serves to protect your income in the event of disability. Our policies are both affordable and robust, which means that protecting your future earnings won’t compromise your income today. While we can’t predict the future, we can ensure that you, and your loved ones, are always taken care of, whatever life may bring.
Below, read on to learn more about Disability Income Protection Insurance from Hollard, or contact us on 0860 46 55 27 today to speak to an insurance consultant about your individual insurance needs.
What is Disability Income Protection Insurance?
Disability Income Protection Insurance – or disability insurance – is a type of insurance that protects the policyholder’s income against the risk of losing his or her income as a result of being unable to work. For example, if the policyholder acquired a disability that made it impossible to work, a disability income plan would provide short-term and long-term benefits in the form of income. It could also help to pay for other costs associated with loss or disability – costs which, in themselves, could place significant strain on a family’s budget.
A disability insurance policy pays out either in one tax-free lump sum of money, or in regular instalments. It will ensure that both day-to-day expenses (such as groceries, home loan instalments and school fees) and costs associated with the disability are covered. Whether brief or extended, an illness or disability can seriously affect a family’s ability to remain financially afloat. A disability income protection plan will ensure that your family retains a firm financial footing, even in the event of illness or injury.
March 06 2011 | Business Insurance In South Africa | Comments Off