Mortgage protection insurance, is in a suite of products that you might hear referred to as income replacement, or disability insurance products. They will pay the benefit to the effected person on a monthly basis, until that person goes back to work, or the benefit period ends.
This information article is aimed at helping anyone gain a basic understanding of insurance. Bolster Risk Management deals in ‘personal insurance’. This means, anything that effects the body (such as health, accident and death).
There are other types of insurance, such as boat, car and house insurance. These are typically known, rather antiquatedly, as ‘fire and general’ cover. This article does not deal with these.
Do you understand why you should have disability insurance?
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Unexpected losses can put the best-laid financial plans in turmoil. Insurance coverage is necessary to protect against unexpected costs, property loss, and disability. There are no universal answers to the question of how much insurance is enough. Situations vary.
Monthly paying disability payments. It can be great cover. It can also be a minefield. What is agreed value? What does indemnity mean? And why