The sheer unpredictability of our lives is what makes them so much fun. But there’s one part of our lives that’s far better when it’s predictable – our income.
Because nothing works without it, if that monthly income stops coming in due to illness or injury, everything will change overnight. The little daily treats we take for granted will go, you might find it hard to keep your car and maybe even the roof over your head.
They say money can’t buy happiness but it does buy all the other things in our lives that most of us need in order to be happy or indeed even to survive. We need money to pay the mortgage or rent, put food on the table, buy clothes, put petrol in the car or buy bus or train tickets, and pay for entertainment. Indeed let’s face it without money there’s not a lot we can do. So what happens if we stop working? Will our income continue to roll in month after month? Unfortunately for most the answer is no.
And it’s not just illness that can put you out of work. It could be a traffic accident, a bad injury or even putting your back out while exercising. And if that happens to you, getting fit and healthy again should be your biggest concern – not worrying about where the money will come from.
But it needn’t be like this – Income Protection is a product designed to pick up where your income left off in the event of one of these circumstances. In the event of being unable to work as a result of illness or injury it would pay you a regular income of up to 75% of your normal income which would go a long way towards making sure that you’d be financially secure.
Fact: One in six Irish workers will be out of work for six months or more due to accident or illness during their average working life. The average claim is 6 years. Less than 10% of Irish workers have any form of Income Protection in place. I’m sure these figures can easily be matched with any country in the developed world. So why is it that we put so little importance on our income when we would all agree it is what makes the world go around?
So why not go out and buy your crystal Ball today. Speak to an independent financial adviser about putting some income protection in place today. For more information on this product or to get a quote check out our website below.
Pol O Murchu is a leading Irish Financial Advisor, Insurance Broker and Mortgage Broker. His company Heritage Insurance Brokers [http://www.heritageinsurancebrokers.ie] provides clients with a range of Insurance and Financial Products to suit their every need. He specialises in Life Insurance [http://www.heritageinsurancebrokers.ie/insurance/life_insurance_term_assurance.html], Income Protection Mortgage Protection, Pensions, Investments, Mortgages, Health Insurance and a range of both personal and business insurance products. To get more information on any of our products contact us today.
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