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Sickness Insurance
The policies falling under Sickness Insurance are also recognized as Income Protection Insurance, Redundancy Insurance, Unemployment Insurance, Mortgage Protection Insurance, and Sickness Insurance, but these plans are created to take care of your financial crisis if you are sick or injured .
These policies allow you to guarantee your financial needs when you are at home and not working. In brief, Mortgage Protection or Income Protection plans help you to keep a part of your income (up to a maximum) . If you were to lose your income you could then claim against your policy and you could receive up to 12 consecutive monthly payments of the amount of cover you have requested for the period you are at home .
However, it is important that you get back to your job as you can only receive the payments for 12 months. After joining your job you have to work for 6 months at least before making a new claim. With the help of this safety shield you can bear the expenses for your lifestyle and your family whilst you are recovering from your illness.