If someone asked you "What's your most valuable asset?" You probably say it's your home. But think of it, unless you are retired or about to retire, you're almost certainly wrong.
The biggest asset that you have is your ability to earn an income. What then is your future earning capacity ?
It is essential that you insure your single largest asset i.e. your ability to generate an income.
Some studies suggest that there is a 33% chance that you will fall sick or disabled for 6 months or longer prior to say age 65.
Indeed, the areas of greatest concern are example - heart attacks, cancer, strokes, kidney failures, organ transplants etc.
The other thing to consider probably is "how can you and your family survive if your income stops for 6 months or longer? Do you have any contingency financial plan put in place right now?
When you want to pick up an income protection insurance policy bear in mind these:-
* type of policy
* definition of what is partial disability or permanent total disability
* the premium
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