Ever thought, how would you pay your dues and bills, if you get sick? Should it be a misfortune and your injury is not letting you go to work? Things are uncertain and when they knock your door, you need a protection and a peace of mind. For such situations, we have income protection insurances also known as permanent health insurance, income replacement insurance or long-term disability insurance. There are policies that are designed to protect you up to seventy percent of your gross, but the thing is— failure to pay your premiums will bring your policy to an end and you won’t get any premium if you are availing benefits. You need an expert advice before choosing a policy for you. We at DM Financial Services assures you about best advice that suits your needs and budget.

I am a self-employed. Should I buy this policy?

Yes. For self-employed professionals, this policy is a good option. However, please be advised, premiums are generally higher in this sort of policy. Check with our experts.

I am a full-time professional. Should I be buying this policy?

Yes. However, before buying, please check whether or not your company pays you for your sick leaves and for how many day? Please check terms and conditions on your appointment agreement about this.

What is the definition of “being unable to work?”

  • Inability to do your job
  • Inability to do a job, about which you are qualified
  • Inability for doing any sort of paid work

Any tax on these payments?

Currently, these payments are tax-free. However, changes in the future can be expected.

What is the durability of this insurance?

You can expect to payments as long as you are in the employment. It is basically deferred period; longer the period, lower the premiums and better income protection.

No payments situation?

Most of the income protection insurances are designed to pay you only for those income losses occurred due to illnesses. You won't be paid, if you are critically ill because of HIV/Aids, pregnancy, war, self-inflicted injury, criminal activity or misuse of alcohol/drugs etc.