INCOME INSURANCE
This type of insurance, as the name implies, offers
a policy that protects a person's income should they
not be able to earn money as a result of sickness or
injury. It is particularly useful for business owners
and professional people who are dependent on themselves
to earn an income.
The policy will pay out a specified monthly amount
for the period during which the insured is unable to
work because of his or her sickness or injury. The amount
payable is subject to an overall maximum of 75% of a
person's average monthly earnings.
Waiting periods for income insurance are 7 days, 1
month, 3 months, 6 months or 12 months.
Income Insurance and extreme sports
It is very difficult, although possible, for extreme
sportsmen to get income protection plans. As a result
of an extreme sport, insurance companies may impose
premium loadings, alter waiting periods for claims or
exclude payments.
Majority of extreme athletes have exclusions on their
polices without being aware of it. To make sure that
there are no exclusions on your policy, or to get information
on a policy that will protect you please contact Extreme
Insurance..
 
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