The Unexpected Expenses of Losing Your Income

The Unexpected Expenses of Losing Your Income

A sudden and unexpected loss of income is a devastating blow for anyone to suffer, especially those with a family relying on their ability to pay the bills and put food on the table. But what can hurt just as much as the loss of income are the unexpected expenses that follow, that pile up and add insult to injury. Here’s how it can happen, and how to protect yourself and your loved ones.

The unexpected expenses

Losing your income can cause many more problems than you may think. Whilst the mind first brings about the obvious scenarios of no longer getting a pay check, it is the unexpected expenses that will take you by surprise, expenses that you would not have had to head to deal with pre-injury. 

You may need to pay for long term rehabilitation and physiotherapy to get you back on your feet. This does not come cheaply, and can be an ongoing commitment for years at huge expense. You may need to have a family member or spouse take time off work to care for you, taking yet another income away from you and your loved ones. Or you may need a registered nurse at home to aid you in your recovery which will leave you hurting in the hip pocket. 

Then there are other medical bills. Follow up surgical appointments, possible MRIs and X-rays, the cost of home modifications and maybe even a new car that you are able to operate, or a driver whilst you cannot. These costs all add up far too quickly and most often cannot be avoided. 

And if you are a business owner you will need to keep the business running whilst not being able to work it as you were. Not only will the shock of injury and onset of what could be a long recovery have its impact upon you, the stress of keeping a business alive can begin to wear you down even more.

Protect yourself with Income Protection Insurance

The good news is that you can protect yourself against these situations with income protection insurance. One simple product can help remove the risk of calamity for you and your family, and in the event of an unexpected accident causing the loss of your income, financial stress will not be among the issues that you face.

Tradecover WA offer a suite of products to protect you and your loved ones. We can tailor your income protection insurance on your age, sex, health, smoking preferences, occupation, and the time interval that you choose to wait before receiving a payout as well as benefit period. And it’s simple, but if and when needed, will be an advanced protection against hardship when you need a helping hand.

Protect yourself

Protecting yourself is easy, and all it takes is Income Protection Insurance. Call Tradecover WA today and set your mind at ease. You’ll sleep better knowing that if something tragic happens, you’ll still be putting food on the table.