Income insurance in the Philippines
Expat Income Insurance is a specifically designed product to protect expats against the loss of income due to accidents or illnesses.
If you are unable to do your work due to accident or illness, income protection insurance will replace the lost income on a monthly basis. This means you can continue paying for:
- Your rent/housing costs
- Your mortgage and other debt payments
- Your tuition fees
- Your other insurance policies
- Your car and associated costs
- Your other necessities and luxuries
There is never a right time to fall seriously ill or to be involved in a serious accident but by being prepared with expat income insurance in the Philippines you can make sure that your household will always be in the black.
Get a quote to see how much a bit of financial security costs for your family.
Do you need income insurance in the Philippines?
Unfortunately nothing halts your financial obligations and your employer can only be sympathetic in the short term, if it all.
Expatriates typically have unique contracts that result in them being very vulnerable to loss of income for a variety of reasons.
An Income Protection Plan provides you with a regular income when an illness or injury prevents you from working. The replacement income will start after your deferment period, (typically 3 months) and will continue until you are medically fit to return to work, or until the age of retirement if recovery doesn’t come sooner. With most income insurance policies you can insure up to 70% of your annual salary.
“An income protection policy is a great way to transfer the risk of having no income due to becoming sick or injured.”
– Paul Beale, CEO of GMS