Today’s lesson from the Motley Fool school is on Income Protection Insurance, which, confusingly, also goes by the names of Permanent Health Insurance, Income Replacement Insurance or Long Term Disability Insurance.
The job of this type of insurance is to pay you an income if you become unable to work due to sickness or injury. It is especially important to get this type of insurance if you’re self-employed, if you’re not self-employed, it’s worth checking whether your employer will cover you for a period off work before forking out extra cash.
Read more about Income Protection Insurance at The Motley Fool.