When would you purchase income protection instead of life insurance?

If you cannot work due to illness or injury, income protection insurance pays you a claimed amount. You'd receive payments until you're fit to return to work, for a set period, or until the end of the insurance term, depending on the policy you choose or whether your claim is successful.

This policy is designed to cover a part of your lost earnings, a way to keep up with your monthly expenses and living as normally as possible. It also is a financial safety net for the other people who rely on your wage, similar to life insurance. It is highly recommended if you are the sole earner of the family and your family is solely dependent on your income.