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It’s never a good thing to have to lose your job or have to forfeit your monthly income for some unforeseen circumstance that leaves you without a job or not being able to perform it any longer. Things like serious illnesses and disability can leave you lost without income and, without anything to fall back on, you could end up losing everything and possibly even end up in the street. If you have a family to provide for and you have bills to pay every month then you need to ensure that you continue to receive money even when something totally out of your control occurs. The easiest way to do that would to put policies in place to kick in when you need them to. You can start with getting quotes from different insurers and checking to see what benefits they have to offer you as part of their service. Online companies like Priceline Protects can give you all the information you need and you can get quotes drawn up from the site, or you can arrange to have one of their financial consultants give you call to have a chat about what you need to know. If loss of income is a big factor for you then you can take out cover for it that will give you a specific amount of money each month to supplement that loss. Unfortunately, most insurers do not pay out the full equivalent to your salary, but at least the amount will be enough to cover you for enough time to find a new job somewhere. You may be able to play around with the benefit amounts and indemnity periods on the policy if you need to try and make it more affordable, but that depends on the insurer and whether or not they are willing to accept that specific type of risk on their books. It’s important to make the policy affordable because you need to ensure that the cover and the benefits are always in place in case of an emergency. So many employees have felt that their jobs were safe, only to find that they were being retrenched after a few bad quarters. Once their settlement packages run out, there won’t be anything left to cover you every month unless you find a job or your income protector policy kicks in for the next few months. AS you can see, the value of having this kind of insurance is invaluable when it comes to helping out when financial times are tough.
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