The Importance Of Income Protection During The Festive Season
As spring has blossomed many South Africans are starting to plan their summer holidays. Whether it be a trip to the beach, or the mountains this means that many will be with their families over the next few months.
During this downtime, while many will forget about their jobs and waking up early to get ready for work or taking kids to school, making sure that you and your family are protected for any unforeseen circumstances is important and that is why you should consider Income Protection Cover.
“Now, as you expose yourself to more risk by going on long travels and doing more adventurous, outdoor activities, it is vital to ensure that you have some form of income protection cover in place”, says Nicholas van der Nest, Divisional Director of Risk Product Innovation at Liberty.
Comprehensive Income Protection benefits look to include holistic cover against anything that could potentially pose a threat to earning an income, including retrenchment, disability and child illness. If you are in an accident while enjoying your vacation, having this type of cover in place will ensure that you are still able to provide for you and your family even if you are unable to work.
“Many people fear being retrenched. Retrenchment Protection Cover will ensure that you are still able to enjoy the festive season even without a regular income as it will pay your insured amount for up to six months if you are retrenched,” says van der Nest. “If you find it difficult to afford this cover, you should at least insure yourself for an amount which would help you cover your critical expenses over such a period,” concludes van der Nest.