The effect of a disruption to your ability to work due to illness or injury
could destroy the security you have worked hard to build. It's a fact
that the average income earner earns over $1.4 million in his or her
lifetime - most of us would agree that that kind of money is certainly worth
protecting. Although we can make future projections about how much
would be lost if your income stopped, what cannot be foreseen is how likely
that is to happen. None of us truly knows our risk of disability
through accident, illness or injury but with rates as high as 1 in 4 people likely
to be affected in their working life, it's worth covering for that
eventuality.
Statistics New Zealand figures indicate that, within the
working age population, 35% of disabilitites, disease or illness-related and 38% accident
related. Fidelity Life's claims statistics confirm that the risk of
disability affects people of all ages, relates to both illness and injury
and often lasts beyond the short-term.
For most people the financial burden of lost income is too great to carry
alone. Once any emergency funds are depleted, significant financial
reserves would be required to replace your income if you couldn't work.
Without income, let alone keeping up retirement and education plans as well
as other goals. When you think of what is at stake, it makes sense to
find an insurance provider to share this risk and ensure your ongoing
protection with a regular benefit to replace a portion of your salary if you
can't work.
Find out more about Fidelity Life's Income Protection products.
|