| Income protection provides peace of mind - through | | | | * Remember to check up on your income protection if |
| financial assistance - if you are unable to work for any | | | | you change employers. Sometimes you are unable to |
| length of time due to sickness or injury. Here are some | | | | transfer that accrued leave, in which case your waiting |
| tips and traps to remember. | | | | period could be too long. But you should be able to |
| * Remember to include all your income streams when | | | | change the waiting period even if you need to pay a |
| working out how much your income is. Don't just | | | | little more. |
| include your salary if you also have investments or | | | | * If you get a promotion along with a higher salary and |
| rental property. The value of overtime, car allowance, | | | | end up with more debt repayments, you may need to |
| and other fringe benefits should also be included. | | | | upgrade your income protection policy to fit, or the |
| * Cheaper premiums may not be the wisest choice, | | | | protection may fall short by quite a bit. |
| especially if they are cheaper because you have | | | | Once you have thought about these things it will be |
| chosen a longer waiting period. What if you don't have | | | | easier to know exactly what income protection policy |
| enough accrued leave to pay your bills for this period | | | | you should get - or upgrade to. If you don't think ahead |
| of time? You could be without any form of income | | | | then should misfortune befall, you and your family could |
| until the waiting period is over. | | | | find yourselves in desperate financial straits. |