It may be hard to think about, but a serious injury or illness could suddenly jeopardize your ability to work and earn an income. In fact, a 20 year old has a 1 in 4 chance of becoming disabled before they retire, according to the Social Security Administration. Without income, how would you pay for your mortgage, groceries, and other bills?

That’s where income protection insurance comes in. This type of policy replaces part of your income if you’re unable to work due to accident or illness. Most policies pay out after you’ve been disabled for 3 or 6 months and cover you for a set time period or until age 65. 

For example, Ryan relied on his $60K accounting job to support his family. But at age 49 he suffered a slipped disk and couldn’t work for over a year due to severe back pain. His income protection policy paid $4,000 per month which was a huge stress relief.

Income protection is a must have insurance that could save you from financial ruin if your income halted unexpectedly. Premiums are usually affordable compared to the potentially massive financial risk you avoid. Get a quote to secure your finances.