Surge In Cancer Among Young Sa Men Shows Need For Income Protection

Losing your income, even temporarily, can be financially devastating. Your income pays for everything in your life, so unless you are nearing retirement and have substantial assets, you will not survive unscathed.

The most vulnerable years are up to our mid-40s, when we are focused on building our careers, growing our net worth, and, in many cases, raising a family. Income protection is crucial at this time.

Younger people often believe that life insurance isn't necessary and that money would be better spent elsewhere.

'Living expenses take priority,' says George Kolbe, head of life insurance marketing at Momentum. 'But as people become more aware of their own mortality or their families grow, they realise they need to insure themselves against a loss of income.'