We all have monthly expenses that need to be paid to maintain our lifestyles. Our rent or bond, our bills, our debt repayments, our medication, food, school fees and the list goes on. These expenses don't stop if your income suddenly stops. This is why you need Income Protection to cover your critical expenses when you are no longer able to earn an income. This is especially important for single breadwinners where you cannot rely on a partner's income if something happens to you. It is also important for people who do not have employee benefits to fill the gap.
The GetUp Income Protection Plan covers death and incapacity with cover of up to R25 000 per month for a period of up to 12 months.
Even if you do have employee benefits they hardly ever pay out from month one. This plan pays out immediately once we receive proof that you are unable to work for 30 days or more. This not only covers those critical expenses when you lose your income, but also prevents you from getting into a situation where you have exhausted all your leave and have to take unpaid leave without an income.