Your financial return for ill-health!

The role of the psychologist is both exciting and challenging, but the selfless task of assessing and treating behavioural dysfunctions in relation to mental health can put an individual at great risk. 

A task force report reveals that between 35 per cent and 40 per cent of psychologists in clinical practice are at risk of being attacked by a patient at some point during their clinical careers. Thanks to Income Protection Insurance(IP), employees can now cultivate their own seeds of hope should the unthinkable occur.

A long-term income protection policy allows workers to receive up to 70% of their original salary for medical conditions that require time off work and are the direct cause of something that happened in the laboratory. Payments continue until a person is declared fit and able to resume work. Funding usually begins when sick pay ends or after any other policy has stopped providing cover. Income protection insurance is not a one-off privilege; it can be claimed many times throughout the duration of a policy.

Secure your wages with income protection insurance

A job such as a psychologist means working in close proximity to any unforeseen violent attack by patients. A guaranteed income protection package allows premiums to remain at a fixed rate for the duration of the policy. This may seem costly in the short term but these premiums are worth their weight in gold should illness strike. Reviewable policies last for a year at a time and start off fairly low. However, the yearly premium will start to increase as an employee ages due to health risks becoming more likely

Research conducted by Unum and Personnel Today shows that only 12% of companies pay staff for more than a year. After that, employees have to rely on state benefits as a means of survival. This can cause a tremendous strain on family finances. Alarming figures show that only 9% of employees working in dangerous jobs, such as being a psychologist, have income protection insurance. This is disturbingly low considering the fact that 41% of people have life insurance and 16% have private medical coverage. We protect our homes, gadgets, health, and even death, but very few of us fail to see the importance and relevance of protecting our income!

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