One of the major reasons people own life insurance policies is for Income Protection. What do I mean?
Think of all the important things in our life. Our family. The family home. The car(s). Our daily expences. Our children's education. Our retirement funds. These are all the most precious things to us; and we are the ones making this dream happen.
However all our dreams can only be fulfilled provided we have the necessary funds to support them. So our standard of living depends essentially on our ability to continue to earn an income. So while we're well, this picture should look like this:
Now what happens if one day, disaster strikes and we lose the ability to work? It could be due to a disability or a critical illness like a stroke. The single pillar that is Income would crumble and our dreams would crumble along with it!
That would be horrible, won't it? But the good news is that it does not have to be that way! With proper financial planning, we can be assured that should anything happen to our ability to earn an income, our dreams don't just shatter.
If we had Disability Income Protection and Major Illness Protection, we can ensure that our dreams and all that is precious to us will remain safe and provided for. Even if disability strikes and destroys our ability to earn an income, solid financial protection will support our pillar of income!
So let's get planning! Let's protect all that we hold dear and never let them down!
