Insuring The Memorable Experiences That Your Income Provides
The ability to earn an income is unquestionably one’s greatest asset. For far too many South Africans, however, income protection is not a consideration – until it’s too late.
“While many South Africans spend the spring and summer months enjoying the outdoors and various entertainment happenings; often they don’t realize they are only able to do this because they have a dependable income” says Boitumelo Mothoagae, Financial Adviser at Liberty. Although current trends are indicating that people are becoming increasingly aware of the importance of risk cover and of making allowances for any eventuality that may be around the corner, there is still work to be done, as the loss of income has particular resonance during these times of economic uncertainty.
“Now, more than ever, we are urging South Africans to plan meticulously for every eventuality by encouraging ordinary people from all walks of life to create a safety net for themselves in the event of unforeseen circumstances such as retrenchment, illness or disability. Our vision is for ordinary people to own their lives and secure their future,” says Mothoagae.
Potential future income is without doubt a person’s most precious and vital asset. If one is no longer able to earn an income, this asset falls away and the results are potentially devastating. The short, medium and long-term effects are huge as they will directly affect you and most likely your family too. While income protection is vital for every working person it is even more imperative for those with families.
Losing your income through retrenchment, disability or serious illness affects your family in multiple ways. The most apparent, being unable to afford your bond, your child’s education and other necessary costs. However, loss of income also means losing out on the family memories that every parent treasures, such as family holidays and activities that you are able to enjoy because of your income.