Income Protection Insurance – are you under-insured?
Your ability to generate income
is your biggest financial asset. Having Income
Protection Insurance is a start, but it’s important
to be satisfied that you’re not under-insured.
In the event of a medical
emergency requiring many months off work, you will be
relying on your income protection insurance to
take the financial stress out of the situation. However,
if you have not regularly reviewed your income
protection cover, you could well find yourself
under-insured and unable to meet even the basic
costs of living during your recovery. This will only add
further stress to your situation, possibly impeding your
recovery and causing even more worry for your family.
Therefore, it’s a good idea to
get into the habit of reviewing the benefits payable
under your income protection policy at annual
renewal time, and again following life changes such as
promotions and new jobs. If you get into that routine it
will help to ensure that, should the worst happen, you
will not be under-insured.
Disclaimer
The information provided is general in nature and
does not take into account your particular insurance
objectives, financial situation or investment needs.
We recommend that you speak to an xLife insurance
advisor or life insurance broker before you make any
decision regarding risk insurance. |
