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Benefits of Income Protection Insurance

Discussion in 'Habari na Hoja mchanganyiko' started by Rogie, Jun 29, 2011.

  1. Rogie

    Rogie JF-Expert Member

    Jun 29, 2011
    Joined: Nov 22, 2010
    Messages: 4,654
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    Guys, we have been living miserably after we get fired from our jobs....in insurance there is a relief known as income protection insurance. Basically it protects the income of a person, and in case if he loses his job, or demoted from the post, he becomes entitled to avail this type of shield in order to compensate his loss.

    Income protection insurance has become more popular in these days on account of the uncertainty and increasing un-employment. Although this type of insurance is awarded to those individuals only who possess jobs, and running their business.

    This type of insurance is offered on nominal monthly or yearly installment. Where people use to get insurance for their health, for their cars, houses and other properties, they don't feel any hesitation to get the protection for their income by means of income protection insurance.

    If in case, an individual loses his position, and for a time being would not become able to cope with the financial needs, the insurance company by means of this policy tries to decrease the burden from his shoulders. He would become entitled to gain the financial assistance, until he regains his position and acquires new job or business. Thanks