Latest Finance News » income protection http://refugeintl.org Get the latest finance news here Tue, 20 Jul 2010 23:00:59 +0000 en hourly 1 http://wordpress.org/?v=3.0 Income Protection For Your Family http://refugeintl.org/income-protection-for-your-family.html http://refugeintl.org/income-protection-for-your-family.html#comments Mon, 01 Feb 2010 08:16:50 +0000 Alex Bhaswara http://www.refugeintl.org/?p=1106 Continue reading →]]> I am here to tell you a bit about income protection and how you can protect you and your family in the years ahead. Do not leave yourself open to losing it all put income protection in place. These days we are all a bit more aware of how easily one can lose everything in a very short period of time. Income protection is one way that you can protect yourself from loss of income in the future. You work hard to keep your family happy and secure. Every month you have a list of outgoings you probably do not give much thought to. But imagine if you became ill and had to stop working. Employers are not obliged to pay for extended sick leave, so unless you have a large nest-egg set aside, you could really struggle. Bills would be harder to pay, and with less money for the mortgage, it could mean putting your home and families security at risk which would add to the pressure when something goes wrong. It may take years to save enough to build up a decent nest egg. However if you lost your job one can spend their next egg in a very short period of time which why it is very important to take action now and protect yourself in the future.

There is a simple solution however, it is called Income Protector. An income protection policy is an inexpensive & tax efficient plan that provides you with an alternate source of income if you are unfortunate enough to be out of work because of an illness or injury. Regardless of what happens to you, you will still have financial support, giving you time to focus on getting back on your feet. To put it simply, if the worst were to happen, income protection insurance could provide peace of mind that you will have a replacement income to cope with your everyday expenses.

If you think about it, almost everything depends on your ability to earn an income. Therefore, if you were unable to work for a prolonged period due to an illness or injury, could you continue to meet your monthly commitments? Who would pay your mortgage repayments; maintain your personal loans, your medical bills? Income protection is a way that you can shield you family from any future risks. This is especially true if are self employed, as very often if you have to stop working you stop earning almost immediately. It may surprise you how inexpensive income protection can be, see below for further information.

If you do not know how you would cope in these circumstances, then you should start an income protection plan TODAY.

• If you are self-employed, you will have no income to maintain your standard of living if you are unable to work long term!
• If you are employed and single, you will receive only €197 per week from the State if you are out of work long term.
• If you are employed, you should consider that most companies would only pay you for a set number of weeks once you become ill.

This site will provide you with all you need to know about individual income protection and how it can help you. We will explain the details of the plan to you in full, provide you with a specific quote, answer any questions that you may have and organise your policy for you.

This article was written by Fergal Tully of Zinc Financials promoting income protection, if you would like to find out more you can go to our dedicated income protection web site. Alan Dolan is the owner of Zinc Financials which provides independent financial advice with more than 15 years industry experience. To see what other services we can provide please visit our Zinc Financial website.

]]> http://refugeintl.org/income-protection-for-your-family.html/feed 0 Income Protection – Various Product Options Available in the Insurance Field! http://refugeintl.org/income-protection-various-product-options-available-in-the-insurance-field.html http://refugeintl.org/income-protection-various-product-options-available-in-the-insurance-field.html#comments Tue, 03 Nov 2009 04:01:55 +0000 Alex Bhaswara http://www.refugeintl.org/?p=185 Continue reading →]]> Are you worried about losing your income? You may fear losing your job due to the recession. It is uncertain whether there would be a continuous flow of income. Due to inevitable reasons, your basic amenities may not be met. What do you do in order to prevent it? You get an insurance in place to protect your earnings. If you fall short on your mortgage repayments then you may have to make an agreement with the lender that you need an extension in payment dates and pay up a penalty for missing them out. But, when your income flow is disrupted it may be really difficult for you to catch up with your mortgage payments on a timely basis. It is highly impossible with out a reliable source.

Reach insurance experts to find out the income protection options that are open to you. Basically there are two types of protection of income: income payment protection and income protection insurance. These are two different terms although they sound similar. Ultimately, they try and help you safe guard your income. Read on to find out what is the difference between the two.

Income payment protection

Income protection insurance

Income payment protection – this pays for a temporary basis. It is paid for a short term. It usually lasts for 30 -90 days. It can stretch to 12 monthly payments. It ceases to exist once you find a job and are earning money again. It also helps to get tax exemption on your income.

And the income protection insurance can last longer till you get retired. This will not payout for unemployment but will pay your monthly payments when you are crippled or are unable to work due to an accident, chronic illness etc.

You might have to make a lot of adjustments in your life style, if you lose your job. As you have to pay back a lot of bills including your grocery bills, electric bills, credit card bills, mobile bills and the financial problem aggravates if you have a bigger mortgage commitments. It makes a lot of sense to have your income protection policies in place. With such policies, you will be able to make all your payments. Your insurance will compensate for the loss of income and will pay out till you resume back to work. It can even cover your medical expenses and hospital bills. Get the most suitable cover to protect your earnings.

Get all your free tips related to Redundancy Insurance from: Redundancy Insurance

Guide to Payment Protection Insurance Payment Protection Insurance

]]> http://refugeintl.org/income-protection-various-product-options-available-in-the-insurance-field.html/feed 0 Income Protection For Unemployment – Greater Relief in Times of Redundancy! http://refugeintl.org/income-protection-for-unemployment-greater-relief-in-times-of-redundancy.html http://refugeintl.org/income-protection-for-unemployment-greater-relief-in-times-of-redundancy.html#comments Fri, 30 Oct 2009 04:01:49 +0000 Alex Bhaswara http://www.refugeintl.org/?p=177 Continue reading →]]> Do you have greater financial commitments? There is no guarantee of your income flow? Are you uncertain about your employment? It’s better to safeguard your monthly income flow by securing an income protection for unemployment.

What if you are suddenly made redundant? Or are unable to work due to an accident or illness? Unemployment protection will help you out in times of need. It is payable in monthly tax-free sums for a temporary period of up to 24 months. They can even cover you up till the period you return back to work or find a new job. A sudden loss of job may add stress to your condition and deteriorates your financial state. Whenever things change you must inform your policy provider because if your details do not match exactly the information on your policy your claim may be void. Clearly state your credit scores and other financial details correctly. If you have any pre-existing condition this should be clearly mentioned while applying for an income protection insurance. Pre-existing conditions and your general health are factors that will be considered and whether you are a smoker or non- smoker will also be taken into consideration. Any change of name in case you are married, change of address, change in salary, change of job or even job description are essential. There are different insurance covers to cater to different income class and different occupation.

Experts suggest such income protection cover for business class too as there is uncertainty of income. Therefore, it is essential to protect your monthly income to be able to make your mortgage payments, credit card payments, arrears and other household bills on time. It offers temporary income in case of an accident or illness. It protects your payments and thus safeguards your collateral too. If you have a high mortgage payment to make and you are unable to make your payments on time due to your unemployment, you may stand a chance of losing your collateral. Safeguard your mortgage payments and other house hold payments in times of redundancy, accident or sickness. Get an insurance cover to protect your income. Stay relaxed, if you are laid off, your insurance cover will meet your daily expenses and pay back your mortgage or other loan payments too.

If you already have an insurance with an existing insurance provider, you can take up your income protection cover with the same provider for better insurance premiums. You have an option of comparing insurance rates online and get a suitable cover.

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Income Protection for Unemployment

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