Income Protection Insurance for IT Managers
Today, majority of businesses rely on technology for most if not all of the things they do. Something basic as email is required to communicate with each other, while cloud computing enables businesses to access their data anywhere in the world, and ensure the security of that data in case of an emergency.
Because of the current technology-driven society, businesses need the expertise of Information Technology (IT) managers to help them stay competitive. So it's a good thing if you're currently working as an IT manager because your job is in demand nowadays. However, have you ever considered what you would do in case you get sick or injured and are unable to go to work? It's okay if it's nothing serious, but if you need months to recover from your condition, your employer would likely decide to let go of you. Where would you get the money to compensate for your salary when that happens?
That is where income protection insurance comes in. It is designed to provide you with steady income when you are unable to work due to an illness or injury. Depending on the features of your policy, you could receive up to 75% of your salary, for up to two years.
It's up to you how you will decide to spend the money you receive. Most people choose to use it to pay their medical bills, their financial obligations, and for their day-to-day expenses. What's more important, though, is that you make sure that you are adequately covered by your insurance policy. But how much is enough?
How Much Cover Do You Need?
When deciding on the amount of cover you need, you have to start with your regular household expenses. Factor in your groceries, utilities, credit card debt, mortgage, plus add a buffer zone for other things such as an emergency fund, savings, and money for your vacations. Add all these up and you will have a fairly accurate picture of how much cover you need.
Contact us on 1300 793 143 and we will organize you quotes from up to 9 Insurance companies in under 10 minutes. Our consultants will talk you through the process. Contact us today for more details!