Your health, well-being, family, and monthly income are the major components of a fulfilling life; don’t you think they need to be secured with ultimate protection? After all, it is most likely your most valuable asset. How would a loss of income affect your lifestyle, family, and goals if you could not work due to illness or injury?
Planning for the unexpected is the best way to help protect your financial security if your regular income is interrupted due to an accident-related disability. ACE Rehoboth Consortium (ARC) believes in providing the tools to navigate life’s uncertainties without financial stress.
Income Protection Insurance is your financial safety net.
What is income protection insurance?
Many of us would struggle to meet our basic expenses, such as mortgage and rent if we lost our jobs due to illness or an accident. Income protection is a long-term insurance policy ensuring a consistent income until you retire or return to work.
If you are not able to work due to a partial or total disability, income protection insurance will pay up to 90% of your pre-tax income for the first six months and up to 70% for a specified period after that.
Income protection insurance will replace your income based on your annual earnings in the preceding 12 months.
Each income protection policy specifies the level of disability that must be met before filing a claim.
Why do You Need Income Protection Insurance?
Income protection insurance is intended to replace a substantial portion of your earnings. This financial lifeline ensures that you can meet your living expenses, mortgage payments, and medical bills while maintaining your standard of living even during difficult times.
Income protection insurance for job loss has become an important safety net in a rapidly changing employment landscape. It allows you to keep your finances afloat during unemployment, giving you peace of mind and the freedom to focus on finding the right opportunity.
ARC provides a lifetime experience with the best Income Protection Insurance in the United States.
Millennials prefer us while considering top companies offering income insurance protection because our customer-centric approach, expertise, and transparency commitment set us apart. We aim to provide comprehensive coverage that meets your needs and offers peace of mind.
Our policies include income protection life insurance designed to provide financial security in your clan during your untimely demise. It’s another layer of protection, ensuring your family’s financial stability in difficult times.
With ARC’s income protection insurance, you can expect:
How Does Our Income Protection Work?
Step 1: Provide coverage for expenses incurred during total disability.
Most people insure their belongings, but few consider ensuring their most valuable asset – income.
Step 2: File your claim.
You can quickly check the status of your claim online at any time.
Step 3: Get your money.
It’s your money; you get to decide how to spend it.
Additional Coverage Options
When you are finally up to invest for a secure financial future, ensure not to overlook the major yardsticks it usually takes to buy the best income insurance protection.
You must provide your insurer with all of the requested information. When you file a claim, your insurer will investigate your medical history. If you did not answer truthfully or accurately in your application, or if you did not disclose something, you may not receive the necessary payout.
You have three primary levels of coverage to choose from, each of which pays out differently depending on your situation:
You cannot carry out your occupation. This is an expensive option, but it also has a high chance of success.
You cannot perform your own or a similar job that matches your qualifications and experience.
Any occupation – you’re too sick to work. This is usually the cheapest option but carries a higher risk of not paying out.
Take your time reading through and filling out the application. Make sure you understand precisely what is and isn’t covered. Be aware that definitions and exclusions (what is and isn’t covered) can differ between insurers.
Contact an insurance broker or a financial advisor if you see something you don’t understand.
You have almost a month from the day you buy insurance to cancel the policy and receive a full refund.
Circumstances can change anytime, so review your policy regularly to ensure it still meets your needs. You may need to raise it. For instance, if you have a child or get a new mortgage, you may require more coverage than your current policy provides.
If you get a new job with better sick pay, you may be able to reduce your level of coverage.
Q1 – Are there any limitations on how I can spend the money?
No, you are free to spend the money however you see fit. It’s your money and your choice.
Q2 – Do I have to be working to buy an Income Protection Direct plan?
Yes. To be eligible for Income Protection Direct, you must be employed.
Q3 – Is it necessary to spend my money on medical expenses?
No. You can spend the money on whatever you want, from medical deductibles to groceries to mortgage payments. It’s your money and your choice.
Q4: How will I receive my money?
In case of any serious accident or illness, you must file a claim with our underwriting company; once your claim has been reviewed and approved, a benefit check will be mailed to you.
Q5: What distinguishes supplemental insurance from medical insurance?
Your medical insurance pays your doctors and hospitals when you are injured or sick; supplemental insurance is designed to pay you. The cash benefit from your supplemental insurance plan can be used for anything, including; deductibles, compensating for lost income while in the hospital, family travel expenses, or assisting with day-to-day living expenses.
ARC’s income protection insurance provides more than just short-term financial relief. It is also a matter of long-term financial security. We keep your financial goals on track by covering your income, whether saving for retirement, your children’s education, or that dream home.
Are you prepared to protect your financial future with ARC’s income protection insurance?
Contact us today to learn more about it.
ACE Rehoboth Consortium is a multifaceted company with diverse portfolios specializing in Financial Education and Planning, Training & Leadership Development, Hospitality and Cybersecurity.
The Financial Education and Planning portfolio was launched in 2017 as an independent Financial Services Owner with the World Financial Group (a Transamerica Company); Training, Entrepreneurship and Leadership Development Portfolio in 2020; Hospitality Portfolio in 2020 and Cybersecurity still in the works and yet to be launched.