Protecting your Income
Many people consider their savings, investments or real estate to be the greatest financial asset. However, they easily overlook their ability to work and earn an income as the greatest asset. It is your income that provides the lifestyle you enjoy and allows you invest and save.
- How would you handle it if your income stopped for a short or long period of time?
- Do you have a back-up plan for that?
- Which of your assets are you willing and able to draw upon in order to pay your bills and maintain your lifestyle?
- You cannot get 2nd mortgage on your home if you do not have income
Bottom line: You’ve protected your cars, home, health and other important assets with insurance; why not protect your income?