Income Insurance and Extreme Sports

This type of insurance, as the name implies, offers a policy that protects a person's income should they not be able to earn money as a result of sickness or injury. It is particularly useful for business owners and professional people who are dependent on themselves to earn an income.

The policy will pay out a specified monthly amount for the period during which the insured is unable to work because of his or her sickness or injury. The amount payable is subject to an overall maximum of 75% of a person's average monthly earnings.

Waiting periods for income insurance are 7 days, 1 month, 3 months, 6 months or 12 months.

Income Insurance and Extreme Sports

It is very difficult, although possible, for extreme sportsmen to get income protection plans. As a result of an extreme sport, insurance companies may impose premium loadings, alter waiting periods for claims or exclude payments.

Majority of extreme athletes have exclusions on their polices without being aware of it. To make sure that there are no exclusions on your policy, or to get information on a policy that will protect you please contact Extreme Insurance.