Putting The Cost of Income Protection into Perspective If 30 year old manager Bill, wants to insure his car for $50,000 it will cost him about $630 per year. For Bill to insure $50k of his income until aged 70 it will cost $620 a year. If Bill makes a claim for his car should he write it off, he will get $50k (if it is still current market value) If Bill is unable to work he can claim $50,000 per year until he is aged 70 – a potential payout of $2,000,000!! And it is increased to keep pace with inflation! So, for the same cost, is income protection really so costly after all? And can you afford not to have it? If you had an imoney in the corner of your home dispensing $800 per week I bet you would have it insured along with your iphone, ipad etc. That imoney machine is you!!! Without the imoney, there will be no iphone or ipad or the ability to buy or maintain ownership of the ihome!
Posted on: Sun, 20 Oct 2013 20:42:45 +0000
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