Loss of Income has been created to cover the financial shortfalls that may arise after an accident or illness that will temporarily deprive us of the ability to work.
In case of insurance in this program, we need to define the following, which also shape the cost of coverage:
When the income depends on your daily manual work then you belong to the professions that need income loss insurance. The only exception would be if there was income from another activity, which could act as a supplement to the income.
Yes, I can choose the amount I want to get as well as whether it will start immediately or have a waiting period.
When I add waiting time to the income loss provision, I am essentially asking to be paid for the slightly more serious incidents and not those that pass in just a few days. This of course makes premiums much cheaper.
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