Protect your income
AS mentioned before, one’s most valuable asset is one’s ability to earn an income.
If this seems far-fetched, please do yourself a massive favour and start with your current annual income, add only 5% each year. Add all these together after a period of say 20 years and see what you get. I can guarantee that the end result would add up to millions.
Without being negative, it is really necessary to face the facts of life. Please do not be deceived and think that “it only happens to other people”. There is a definite possibility that disaster could strike anyone of us at any unsuspected time. We thus really need to ensure that we are fully covered for any unfortunate occurrence that may come across our path.
In addition to actual life cover, one should seriously consider the necessary cover against disability and serious illness or injury. In short, we should all be covered for all events that could cause a loss of income, whether it is temporary or permanent.
Let us just imagine the consequences of the loss of the ability to generate an income. An income protector policy can give your family the security of a monthly, tax-free, income during a period that you are unable to earn an income and will continue to do so until you can earn your regular income again. This can be for a temporary period or for permanent incapacity.
Each person’s needs are unique, and an income protector plan can be customised according to each individual’s needs. It is thus important to engage with an experienced financial planner to assist with the establishing of one’s personal needs and to assist one to structure a plan that will take care of all unfortunate eventualities that might arise. The result of such an exercise would certainly give yourself as well as your loved ones the much-needed peace of mind.
There are various excellent products available that are specifically designed to fully take care of one’s specific needs during any eventuality. During a period of temporary incapacity, one can look at an income-replacement policy or a temporary disability policy. In the unfortunate event of becoming totally and permanently disabled, the necessary cover provided by a permanent disability policy can certainly take care of one’s future and permanent financial needs.
It remains not a question of “can I afford this cover?” but “can I afford not to have this cover?” It has become essential to appoint a well-known, experienced financial adviser to assist you to establish your personal needs in this regard and thereafter to provide you with an affordable plan to take care of all your current and future financial needs.
For personal financial care, with an absolute passion, feel free to phone me for a confidential appointment on office number (087) 805-7712 or pop in to our offices at 20 Southwell Road, Port Alfred for a friendly chat and a good cup of coffee. We have sufficient on-site parking as well as convenient wheelchair access.