The most common reason for disruption of income is Job Loss, or Slowdown in Business, isn’t it?
Sometimes it may take up to 6 months to find another job, or get your business revenue back to normal.
Will your expenses wait for that to happen?
"Always maintain an emergency fund equal to six months of your average monthly income." Amit Mitbawkar - https://amitmitbawkar.com
Apart from the Job loss, the 3 main factors for disruption of income are:
Yuvraj Singh, the famous Indian cricketer lost USD 3.5 million (his annual earnings) when he didn’t play cricket for one year, because of Cancer.
How much money will you lose, if you are not able to work for 1-5 years because of Critical Illness? Will your expenses stop during this time?
Protect at least 5 years of your current income against loss of income due to Critical Illness.
Michael Schumacher the F1 Racing Champion, went into a coma for 4 years, after hitting his head on a rock, while skiing in the French Alps.
Worth $800 million, his family is said to shell out £115,000 a week for round-the-clock care.
How will you and your family fair financially, if you are permanently disabled today?
Protect at least 10 years of your current income against loss of income due to Permanent Disability.
Steve Jobs died of Pancreatic Cancer in 2011. He was worth USD 10.5 Billion, when he died.
How much are you worth, and how will your family fair financially, if you die today?
Protect at least 10 years of your current income against loss of income due to Death.
Amit is an Independent Financial Advisor, based in Dubai since 1997. He is part of the prestigious ‘Million Dollar Round Table’ (MDRT), which is an elite club of the best financial advisors worldwide. He has authored the ‘6-Step Financial Success Guide’, and the book ‘Creating, Preserving, Distributing Wealth’. He helps business owners and professionals ‘Create A Second Income’ through investments.
Please log in again. The login page will open in a new window. After logging in you can close it and return to this page.