Expat Income protection insurance is insurance cover If you became partially or permanently disable and not able to perform you main form of employment. If you cant work or dont have enough savings you will likely end up not getting paid unless your employer continues to pay you. Generally income protection policies cover you for up to 75% of your salary in the event that you cannot work through illness or disability. These policies can be set up so that if you have a short term disability that can be overcome all the way through to a permanent disability right up to 65 years of age when you would have retired.
If you are a computer specialist with a broken hand, or a postman with a broken leg, an income protection plan in Asia can help you to maintain your lifestyle without having to worry about where you will find the money to support your family.
Disability and Expat Protection Income Insurance Protection in Asia?
Disability Income Protection Insurance protection may not be a suitable protection policy for everyone. If you are worried about your loss of income following an accident which has left you unable to perform in your normal employment, if you work in a specialized or dangerous industry, or if you simply wish to ensure that your family will be able to manage financially while you are recovering, then this type of policy is something to give serious thought..
Examples of injuries and disabilities covered by a Disability Income Insurance plan include:
- A data in-putter with severe wrist injury
- A guitarist (such as in a professional band) with a Broken Hand
- A Rugby Player with an tendon Injury
- A Office worker recovering from serious illness
if you are unable to work due to sickness, injury or disability you are suffering from then Disability Protection insurance will make that you are still able to receive income during your recovery. If you live in Hong Kong or Singapore where property and rental prices are some of the worlds highest the income protection policy will ensure you have the income to survive without having to face the prospect of returning to your original country of residence.
School Fees Payments From Income Protection Insurance
These days hardly any employers provide for your children’s school fees if they are studying at an international school in Asia. Without an income it would be nigh on impossible to afford the school fees from saving as eventually your savings would run dry. In this case it is likely that you would wish to ensure your child’s continuing education, which is best achieved through the purchase of a plan like a Disability Income protection policy.
Disability Income Insurance Considerations
There are a number of important considerations in relation to disability income insurance coverage in Asia which should be fully understood prior to the purchase of a policy.
Point 1 –
Disability Income options can offer protection to the policyholder on a short term basis of up to 2 years of coverage after an accident, or a long term basis where the plan is able to provide protection through to the policyholder’s normal age of retirement (usually 65 years of age). It is important to understand that the Disability Income protection policies which provide income protection through to retirement age will normally be more expensive than those which offer only short-term coverage over the course of a few years.
Point 2 –
Disability income protection plans will not provide coverage for any pre-existing conditions prior to the purchase of the income protection policy. Only disabilities caused by accidents, injuries, and illnesses which have developed following the purchase of the policy will be covered by the plan.
While Disability Income Protection Insurance plans can provide extensive peace-of-mind to you through the salary support offered, these products actually work even better in tandem with a number of additional protection insurance options.
Products which can be used to support a Hong Kong Disability Income insurance policy include:
Critical Illness Insurance
Term Life or Whole of Life Insurance
If you would like to receive a free quote for a comprehensive Disability Income Insurance plan in Asia simply fill in our contact form on the right hand side.
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