Income protection and salary protection term insurance are both designed to secure your financial future in case you can't work due to illness, injury, or unforeseen circumstances. The main difference between the two lies in how they’re structured.
Income protection generally provides a portion of your monthly income if you're unable to work, helping cover living expenses and maintain your lifestyle. It's perfect for anyone who relies on their income to manage everyday expenses.
On the other hand, salary protection focuses more specifically on replacing a set salary amount during your time off work. It’s great for those with a stable income from regular employment, giving them the confidence that their bills will still be covered if they can't work due to a health issue.
Both types of insurance offer peace of mind, knowing that you won’t have to compromise on your financial security during tough times. If you're considering these options, it’s a good idea to check out the PolicyBazaar term insurance page for more details and to find a plan that fits your needs!
