Statistics show that the chances of becoming disabled in South Africa are 37% for men and 26% for women. ¹

 

It is scary to think that 5% of South Africa’s total population is disabled, with the prevalence of sight disability being the highest at 32%, followed by physical disability at 30%. More so, only 18% of the disabled population is employed. These statistics give rise to the importance of income protection and what a necessity it is to protect your greatest asset - your ability to earn an income.

 

What is the importance of Income Protection?

· FMI’s income protection provides monthly payments until a selected age of retirement when incapacitated due to an accident or illness. This gives any salaried earner or business owner the piece of mind of financial security if they are unable to work.

· Income protection enables other insurance policies, provident funds, debt and other expenses to be serviced effectively. Especially in the current economic climate where people are struggling significantly with their debt management plans, income protection becomes vital.

· FMI’s Business Overhead Protector benefit covers certain business overhead expenses, thereby keeping a business operating and staff’s salaries paid.

· FMI’s Prostaff benefit allows key individuals to be covered which either enhances the individuals package or the cashflow of the practice by having capital available to pay any temporary personnel needed to fill the gap of the disabled employee.

 

Especially during the festive season when accidents and the chances of becoming disabled boom, it is imperative that you protect your business and the wealth that you have created. For more information about FMI’s income protection products, please contact FMI Financial Advisor Distribution on 0860 10 52 08, email sales@fmi.co.za or visit www.fmi.co.za.

 

¹http://www.exsa.co.za/exsa/exhibitionarticle.aspx?rootid=4&subdirectoryid=997

FMI Ltd is an authorised Financial Services Provider, FSP 2717

Did you know?

To help keep cover levels up to date with inflation, FMI offers claim and annual escalation benefit options of 5%, 7.5% and 10%.

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Operating hours this festive season

24th December - 8am to 12pm

25th - 26th December - Closed

29th - 30th December - Normal hours

31st December - 8am to 12pm

1st - 2nd January - Closed

5th January - Normal hours