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Protect Your Income!

YOCG Wednesday 6 1 16 CanvaYour Income is One of Your Biggest Assets – Protect It!

What happens if you can’t go to work for a few months?

Let’s say you trip over the cat and break your arm.  Oh, and by the way, you cut hair for a living!!!   OR…………………..

You get sick and can’t go into the office for 2 months…………….

How do you pay the bills?

There has always been coverage for situations like this, but, it has been notoriously expensive!!!  That is, until NOW!

What used to be called Disability Insurance has since changed a bit and re-born as Income Protection Insurance.

The sole purpose of Income Protection Insurance is to now replace most of your take home income so you can survive and not worry about how the bills will be paid.

Let’s take a closer look at Income Protection Insurance:

Specifically, Income Protection Insurance is a long term policy structured to help you if you are seriously ill, injured or disabled.  These circumstances can either be long term situations or short term.

YOCG Tuesday 5 31 16 CanvaSome of the AMAZING benefits included in a policy like this are:

  • The assurance of income!  You read correctly!  This type of insurance is designed to pay a portion of your income to you in the event you are too sick, injured or disabled to work.
  • The CONTINUED assurance of income!  This type of plan can be structured to continue to pay you a portion of your income until one of the following occurs,
    •  The policy term you choose is reached
    •  You get back to work
  • You can make a claim as many times as you need to as long as you are covered on the policy.

Some factors regarding this type of insurance you need to be aware of include:

  • Waiting periods.  There is a waiting period that takes place before income payments begin to happen.
    • You can choose 30, 60, or 90 day waiting periods.

Understanding What Income Protection Insurance is NOT

Income Protection Insurance is not the same thing as critical illness insurance.  Critical illness insurance typically administers one large sum of money at one time, depending on the type of serious illness you may have.

YOCG Thursday 6 2 16 CanvaShould YOU Consider Income Protection Insurance?

You should if you:

  • Cannot survive on your sick pay benefits as provided by your employer
  • Do not have a large amount of savings put aside for a serious illness, injury or disability
  • Are not in the position to take an early retirement or retire at all
  • Are unable to survive on the income of your partner

Curious about learning more?  Contact Dave, Your ObamaCare Guy for more information at: (813) 391-3448 or email me at