The insurance world has a lot of assumptions. Many people assume that a lot of the different types of life protection insurances are for families. That’s a safe assumption, considering much of the marketing is geared towards families. However, what you need to realize is that income protection isn’t just for families — single people should apply too. Why should single people even be concerned about income protection?
Well, in a nutshell, it’s important to remember that single people can get sick as well as people with families. And truly, no one in life is really single — we all have things that we like to do, and a lifestyle that we’ve worked hard to build. You don’t want to find yourself being unable to take care of everything because you have been diagnosed with a critical illness, or that you had an accident at work and you’ll have to be out for longer than what you expected. Yes, you might have other programs that you can tap into, but they all take time. Income protection plans would give you the money you need sooner.
Who knows, you might already have a group income protection plan at work that you can opt into at any time. There is often a waiting period, but it’s still worth looking into. The cost could also be a lot less than you think.
Indeed, the cost of inaction is always higher than picking up an insurance policy. Being unprotected welcomes in a host of problems that you probably don’t want at all, and that means that you have to act accordingly.
You will still want to have a savings account, and a thousand other resources that really help you make the difference in your life. However, income protection is one thing that you don’t want to pass up. Yes, it’s another bill that you will have to pay every single month in order to keep your policy valid, but it’s still worth looking into — check it out today for yourself!
Once you really see the power of having insurance that covers you in case you get sick, you will never go without it again. It really is that powerful — one of the highest forms of lifestyle protection that you can get!