You can qualify for income insurance if you become ill long term, or have a serious accident which prevents you from working or earning an income. As with car insurance, you need to choose the insurance package that is best for you. Additional information can be found at the following link: http://www.incomeinsurance.co.uk/
I don't know how insurance calculate it, i think they should go after gross income instead of net income
The average income of a crop insurance agent is $6000 monthly. This translates to a salary of over $72000 per year.
The cost of income protection insurance varies. It is dependent upon several variables and factors that will be unique to each situation.
There are a number of reasons, but the most obvious is moral hazard. If you were guaranteed a certain level of income by an insurer, what incentive would you have to stay at your job?
Statutory income is income that is not part of the income from an hourly or salary job. Some types of statutory income are commission, lump sum payments for termination of a job, royalties and insurance bonuses.
This is a very good question. Umbrella insurance is a type of insurance that covers personal property and the future income of the policy holder. It is a different type of insurance.
Disability Insurance is what is referred to as income replacement coverage.
There are several benefits to having income insurance. If in any weird occasion you are not able to work the insurance would keep you alive for a relative time period.
Income insurance is basically Disability Insurance, you pay a premium each month to a company, who will then in turn pay you a percentage of your income if you are unable to work due to illness or injury. http://ezinearticles.com/?What-Is-Income-Insurance?&id=6382121 http://www.ehow.com/about_6171413_income-protection-insurance_.html
In most cases insurance agents and brokers work on a commision basis. So your income is based on how much insurance you sale.
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If you have no income, how you will pay the medical insurance premia ? To get medical insurance coverage, you are to show atleast some sort of income to convince the Insurance Company about your premium paying capability.
You rely on your income to pay your bills: mortgage, rent, car payment, utilities, groceries, etc. You need your income to save money for retirement and future emergency situations. If you get sick or hurt and become unable to work all your bills will continue to pour in, but there will be no income to offset these expenses. Disability insurance replaces a portion of your income while you are unable to work.
Workers compensation benefits are typically not taxable income.
Disability insurance kicks in when you become ill or get hurt and or unable to work. It's supposed to replace the majority of your income so you can still afford to live. Disibility insurance helps you pay your bills if you are unable to work due to injury or illness.
You would need a whole life or an universal life policy with an income rider, and possibly a long term care insurance policy which would fall under a health insurance policy.