Income Protection
Ensuring financial stability by providing a regular income if you’re unable to work due to illness or injury. This coverage helps you manage essential expenses like mortgage payments, bills, and daily living costs, reducing financial stress during difficult times. Astra Worldwide can help you with a tailored plan that can safeguard your lifestyle and focus on recovery without worrying about lost income.
Secure Your Income, Protect Your Future, and Enjoy Peace of Mind!
Don’t let unexpected illness or injury put your income and financial stability at risk while you’re living and working abroad. Our Income Replacement Plan provides a steady monthly income, ensuring you can maintain your lifestyle, support your loved ones, and focus on your recovery without the added stress of financial uncertainty.
Have you secured and insured your income?
As an expatriate, unexpected illness or injury can disrupt your financial stability. While life and medical insurance offer protection, Income Replacement is often overlooked.
IRP (Income Replacement Plan) is your safety net, providing a monthly income if you’re unable to work due to illness or injury abroad. It’s not just insurance—it’s peace of mind for you and your future.
Why do you need an Income Replacement Plan?
Consider this: If you couldn’t work due to a disability, how would you maintain your lifestyle, keep up with mortgage payments, or provide for your family?
IRP steps in to fill the void. It ensures that you have the financial support needed to focus on your recovery and continue your life abroad without added stress.
The Benefits of an Income Replacement Plan
Consider these real-life scenarios:
Case Study 1: Giving You Financial Support While You Cannot Work
Alan works for a chemical engineering firm, and his employer asks him to relocate permanently to North Africa. Alan thinks that the opportunity is too great to miss, plus the remuneration is very attractive. He decides to take it, moving his wife and two children with him and enrolling them in an international school.
A few years after his move, he was diagnosed with multiple sclerosis. Soon after, Alan is left unable to continue his employment, and, with his particular form of multiple sclerosis, he will never be able to work again. After his employer’s sick pay scheme ends, Alan would be left without any income to support his family or pay for his health insurance, which provides the private healthcare on which he relies for treatment of his condition.
With the Income Replacement Plan, Alan would receive a replacement income paid for several years—increasing by 2% compound each year—until his retirement age of 65 or death, whichever is soonest. With the safety net afforded by income protection, Alan can still afford his health insurance, pay the household bills, and support his family—even though he is unable to work.
Case Study 2: Giving You Financial Space to Focus on Your Recovery
Samantha moves from Britain to Australia with her two children to take on a new role as an administrator for a sports team. A few months later, she’s involved in a road traffic accident and suffers serious injuries to her arms. She undergoes emergency surgery and the doctors say she is unable to return to work for at least 10 months while she completes an extensive rehabilitation program.
With the Income Replacement Plan, Samantha would start receiving 80% of her pre-disability salary after her 3-month deferment period. It would be enough that Samantha wouldn’t have to worry about paying the bills for her and her family. She would be able to focus fully on her recovery, rehabilitation, and spending time with her children.
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