In uncertain times, salary serves as the pillar of your financial security. Be it daily necessities, installment repayments, or future planning, everything depends on that regular flow of income. But what if that stream is suddenly interrupted due to layoff, illness, or disability? Here comes Salary Protect Insurance – a financial tool that ensures your paycheck remains intact, even in difficult situations.
Salary Protect is a new insurance plan that makes sure you keep receiving an income throughout times when you are not able to work for temporary layoffs, sickness, or other unforeseen accidents. Consider it as a preparedness plan to assist you in paying your crucial bills when things don’t go as planned.
Life is unpredictable. Working environments change, sickness can strike without notice, and accidents occur unannounced. Here are the reasons why Salary Protect proves useful:
Financial Stability: Assurance that the needs of your family will be met even when there is a cessation in the income for a short period.
Stress-Free Living: Alleviates emotional and financial distress during hard times.
Loan and EMI Management: Regular outflow of income ensures that there is no default on the repayments of loans or credit cards.
The working of Salary Protect is very simple:
Select Your Plan; decide what amount or percentage of your salary, which is usually paid out each month, you would like to insure.
Pay the Premium; make a reasonable number of premium payments per month or year.
Claim Benefits; If you lose your income due to certain qualifying events, you can claim benefits that represent what would be your income.
For instance, if you are made redundant or are unable to carry out any work due to ill health, your insurer will pay you a certain percentage of your salary for a short period, as agreed, before coverage commences.
Offer peace of mind with a 90-day financial aid package for individuals facing job loss, ensuring they have financial support when they need it the most.
Income Continuity
Guaranteed provision enables essential payments like rent, groceries, and school fees to be made during the periods when one’s normal income is suspended.
Affordable Premiums
It helps that an individual can incur a nominal premium and gain huge benefits. it is therefore an affordable approach to financial security.
Customizable Coverage
Every individual is distinct in our world. it is for this reason that Salary Protect policies allow individuals to determine the amount to be covered and the period it should run for.
Quick and Hassle-Free Claims
Online services such as Assurekit make it easy to claim and receive funds after loss for it is designed to assist you when you require help the most.
Case 1: Recovering from job loss
When Rajesh, a marketing expert, was laid off as part of company cutbacks, the suddenness of it left him quite shocked. Luckily, his Salary Protect insurance gave him monthly payments for six months. He was able to sustain his family’s needs during the period while searching for employment.
Case 2: Recovering from an unforeseen illness
Pooja, a teacher has a very rough time because of one major health problem and could not get back to work when she was supposed to. She did not have to worry about bills because her Salary Protect policy provided her with a regular monthly income.
Those whose financial situation meets the aforementioned criteria could benefit from Salary Protect which is suitable for:
Employees with a family to provide for.
People with existing large financial obligations such as home or auto loans.
People worried about their salary coming from a job in a competitive environment.
It is high to invest in Salary Protect if you depend on your salary for everyday expenses.
It is the ease with which Assurekit’s digital platform allows for the provision of Salary Protect that brings many clients. It is very easy to modify and buy policies in a few clicks as the platform has plug-and-play features. With this platform, one can also get straightforward answers enabling swift and sound decisions.
The Salary Protect Insurance goes beyond earning premiums and claims for an insurance company; it also involves offering peace of mind in times of uncertainty knowing that even when things don’t go as planned in life, their earnings are secure.
With Assurekit, one can secure a consistent income stream for the unexpected by investing in Salary Protect today. Because in the end, what matters most is serenity!
2020 was a revolutionary year for the insurance sector. As the Covid pandemic raged around the world, inquiries for health insurance rose by about 30-40%. In a time like this, Insurance could not be sold offline, (which is how insurance used to be majorly sold). This led to a fast-paced adoption of digital platforms in the insurance industry. Technology stepped in to fill the gap that the pandemic caused and changed the way the insurance business works forever. Since the dot-com bubble, the insurtech space has been growing at a rapid pace.
