Last Updated on April 15, 2021
So, what do you think now? Is this insurance worth it?
5. What Are The Types Of Income Protection Insurances?
Income protection insurance comes mainly in three types you can choose from: The first one is “accident, sickness, and unemployment”; this one allows you to receive up to 50% of your regular income every month. The second one is referred to as “payment protection insurance,” It normally lasts for up to 2 years where your insurer makes up part of or your whole repayments on your loans and debts. Whereas the third one specifically covers your mortgage when you can’t pay it and is called “mortgage payment protection insurance.” Do not forget to ask your insurer about your options and to consider each one carefully. But before that, you might want to check the frequently asked questions about income protection insurance and their answers from the perspective of an insurer.
