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Insurance is often misconstrued as nothing more than a big money making racquet where they simply take your money each month and you never see anything in return for your patronage. People often resent that fact and as a result, they tend to shy away from insurance altogether and they even end up bad mouthing their experiences with other people. Regardless of what they might say though, there is nothing to change the fact that when you have an accident in your car or you end up getting retrenched and the benefits that you are actually paying for kick in and you get your car repaired or you receive an income for a short period after you leave your work. You can at least carry on with your life because your car is working and you are still able to pay your bills while you are looking for another job. When you look at it that way, the benefits of having any kind of insurance is made quite clear. When people finally realise that they flock to sites like Priceline Protects, to get comparisons and quotes for the various insurance options available. Once you are able to see the value of insurance, you are able to see the benefits of certain types of cover that they have to offer as well. Income protection for example, is designed to cover you in the event that you are forced to leave your job. You can opt for cover to kick in right away or you can opt for 3 or 6 months afterwards, to try bring the monthly premium down a bit. You can also select the benefit amount that you are to receive and for how long you are to receive it. The longer you receive the benefit, the more it is going to cost and the same thing applies to the amounts as well. In most cases it only works up to a maximum percentage of your current income, usually 70%. The higher you make these amounts and the longer you make the indemnity period, the more expensive it gets. If you are able to speak to a financial advisor that knows all of this stuff, you can get them to explain it to you in more detail and they can help you plan out what you need to put in place and help you make all the relevant policy applications that you need in order to get the cover you require and ensure that you don’t get have any financial shortfalls under any circumstance.
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