For many people, their income is their most valuable assets. While that income is vulnerable to the economy, it may also be vulnerable to your future health.
Income protection is a form of insurance that protects you against the possibility of being sick over an extended period. Generally the cover kicks in if you have been absent from work for a number of months because of illness, with this illness being medically certified.
Some are provided with this cover as part of their employment. For those who aren’t, this is a very valuable form of insurance.
You should assess your life assurance, income protection and critical illness insurance needs overall. You want your family to be protected in all eventualities.