Infographic brought to us by Income Protection | Drewberry™ – The Insurance Experts
What Is Income Protection Insurance?
- This is an insurance policy to protect you and cover your lost earnings due to injury (incapacity) or illness.
- This insurance policy pays out a tax-free income up to 65% of your current gross income.
- You can get a policy that pays our for 1 year, 2 years, or even up to retirement age.
- Make sure to research and understand the difference between Income Protection (IP) and Payment Protection (PPI)!!
What Does Common Income Protection Cover?
- 31% Mental Disorders
- 19% Muscular Skeletal
- 9% Nervous System
- 18% Other
- 23% Cancer/Heart/Stroke
