Type 1 Diabetics usually cannot get full Income Protection insurance cover but may be eligible for Accident Only Income Protection. On the other hand, Type 2 Diabetics usually can qualify for full  Income Protection.

Income protection pays up to 75% of a person’s income if through sickness or injury they are unable to work. An accident can be just around the corner. Income Protection Insurance provides a person with an applicable income should their ability to work be impaired.

Type 2 Diabetics need to be aware that 75% of their salary will be covered in monthly payments if a successful claim is made, which is a reassurance that factors in how much you earn. There is a 30 to 90 day waiting period before a person can make a claim, and being truthful is highly advised to ensure coverage is provided. The cover lasts until a person is 65 years old if still working, allowing peace of mind as the retirement age creeps closer. The protection is crafted to the needs of the individual, and the bookkeeper would be best equipped to understand what works for them.

Type 2 Diabetics would make a claim when sickness or another debilitating factor leaves them unable to work. The claim would be made due to being unfit to perform the regular duties of the profession. All professions require strong health and cognitive ability to perform tasks; if the tasks can’t be achieved, a claim can be made.   

As Income Protection Insurance is adapted for the buyer, few are qualified to reap the benefits. What you can claim is dependent on your salary and escalates with inflation.

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