Many of our customers often ask us what the difference is between income protection and redundancy insurance, and although they go hand in hand, they are not the same thing.
Income protection is an important addition to any family’s insurance policy. Income protection insurance covers your income in the case of sickness, accident, or disability. People often make the mistake of thinking they don’t need income protection insurance because they are entitled to ACC. However what many people often forget is that ACC is specifically accident insurance, therefore it does not cover sickness or many cases of disability. Income protection insurance can be personalised to match your protection needs, covering up to 75% of your income for a time period selected by you.
Redundancy insurance protection is vital to add on to any employee’s insurance policy. Redundancy insurance protection is the cover you need for the unexpected event of being made redundant. All clients who receive redundancy protection are not aware that they will ever need it. As we at Ease Insurance have experienced, many people who sign up feel secure in their positions with a stable company. However, what we have seen is that these are the people who feel the most relief when they are suddenly made redundant out of nowhere and have purchased a redundancy insurance package.
What Is The Link Between Income Protection And Redundancy Insurance?
Both income protection and redundancy insurance are there to protect your income in the event that something happens that is out of your control. If you would like to be covered in the event of redundancy it is vital that you also have income protection. Ease insurance is the leading insurance broker for both income and redundancy insurance. We are able to provide you with a no-obligation insurance quote for peace of mind so you can protect both yourself and your family. Contact us here for your quote.