• Coverage for 2 years if unable to work at normal occupation

• Coverage to age 65 or retirement if unable to work in occupation qualified for

• Pays after 3 or 6 months elimination period chosen by you at start of policy

• Pays up to 75% of your recent normal wage or salary  (or)  75% of average annual earnings over the past 3 years for self-employed policyholders

People can get Weekly Temporary Disability cash benefits of an accident policy confused with an Income Protection policy. The major difference is that an Income Protection policy will cover disablement due to either accident or sickness. This, in some buyer's minds, is similar to workmen's compensation or unemployment benefits due to medical causes. This plan was designed primarily to protect the employee's income as a result of medical disability at the point that other sources of wage or salary terminates. This is an especially valuable protection for self-employed businesspersons and independent professionals who once unable to work may not be entitled to any compensation from government or employers who have contracted them for their services.

 Typically the plan covers an insured having an accident or illness that completely prevents her/him from working at their normal occupation. Cash benefits begin to be paid after passing first through the elimination period of usually 3 or 6 months depending on which is chosen when initially purchasing the plan. Cash payments continue up to age 65 or expected retirement age, whichever comes first. After two years of continuous payments, benefit will only continue to be paid if you are completely unable to follow ANY occupation for which you are reasonably fitted by training, education or experience. Once benefit payments begin, the amount will escalate by 2% compound each year.

 With income protection, the Financial Planning aspect of a business or of a family can be supported by non-interruption, for an extended length of time, normal income of key people. This possible employee benefit for a company group, even with premium sharing by both employer and employee, can raise the employer's profile to higher levels thus attracting better applicants for employment. It goes without saying that a family's financial plan will be affected dramatically without protection of the breadwinner's income that is relied upon so greatly.

OMNI INSURANCE BROKERS
Centralized Liaison Office

5th Flr. Salustiana D. Ty Tower,
104 Paseo de Roxas,
Legaspi Village, Makati,
Philippines 1262
Tel: (632) 810-0487  
Fax: (632) 810-0761