You might have seen my allegory before – but I cannot stress the importance of income protector enough.
In times of temporary or permanent disability or sickness, an income protector is crucial to pay for your day to day expenses.
It is an affordable way to help you!
Please also read the interesting attachment.
A disability event is like your ship disappearing below the surface of the ocean. At that point you need a lifeboat (temporary disability cover) to get you to your island (permanent disability cover) in order for life to go on.
Unfortunately the current situation in the South African market is similar to that of the Titanic – if the ship should sink (i.e. a disability event occurs), there simply aren’t enough life boats (temporary disability cover) on board. Most passengers will have to brave the icy waters by themselves…
In addition, most of the shipwrecked will be faced with the stark reality that there is no island (permanent disability cover) in sight. They will have very little choice but to try and remain afloat for as long as they can…
For those who are fortunate enough to make it to their island (permanent disability cover) too many have opted for a large container full of food on day one, from which they must now live for many years (i.e. they chose a lump sum disability benefit). Only a select few made the wise choice of pre-ordering regular delivery of fresh food (i.e. an income replacement disability benefit).
“Risk comes from not knowing what you’re doing” – Warren Buffett