Home > Lifestyle > Health and your money > FRANK.NET advertorial Updated 24 July 2013 How protected is your income? Regardless who you are, accidents are bound to happen to most of us during our lifetimes. 0 Quiz Are you practical? » Ask CyberShrink » Subscribe General Newsletter » Like Health24 on Facebook » For love or the money, what really rules our hearts? The story of money The world economy has been rather sickly since 2007 when a US housing bubble caused the values of securities tied to real estate to plummet, damaging financial institutions globally in the process. The recessionary environment that ensued, affected the entire world economy with millions of job losses. South Africa, while not as badly affected as many other countries, has not been totally spared, and many sectors have reduced their employee numbers drastically in the past few years. Let’s face it, uncertainty will continue to prevail for some time and many of us will face the daunting prospect of a possible retrenchment at some point during our careers. Regardless who you are, accidents are bound to happen to most of us during our lifetimes. Such an event could easily impede your ability to earn an income temporarily or permanently. Your most valuable asset is your ability to earn an income during your working career. Your income enables you to create and maintain your lifestyle - the home in which you live, the car you drive, the education that you provide for your children, provision for retirement, medical aid as well as the odd holiday! If you add up your potential paycheques, at no inflationary increase until retirement, you will be surprised at your total earning potential!Even though you may still be young, working at your first or second job and being very confident of achieving all your goals, any of the above scenarios could dash all your dreams, making you lose your independence and becoming a burden to your family.Likewise, if you run your own business and something happens to you, it could mean the end of your business, resulting in other families living off your company losing their source of income as well. Will you be able to handle such a setback? Are your dependants able to maintain a sense of normality during trying times? Investing in a policy that protects you against loss of income is one way of securing your future.FRANK.NET offers Salary Protection, which ensures that your paycheques keep coming for up to six months if you're retrenched. If you become permanently ill or disabled, you will receive payouts until the age of 65. FRANK.NET’s Salary Protection product comes with a set of unique benefits:• FRANK.NET will pay an agreed monthly amount of up to 75% of your current salary (determined by your premiums and personal details).• Salary Protection helps you protect one of your most valuable assets: your future salary.• Your monthly payouts will allow you to continue paying your bond, vehicle expenses, grocery and utility bills, as well as everything else that your salary typically covers.• You will be covered for up to six months after losing your job as a result of a legal retrenchment process.• If you're rendered permanently disabled or unable to work as a result of illness or disability, your cover will pay out until you turn 65.There are tax implications. Contributions to the Income Disability benefit may be claimed as a tax-deductible expense. Money paid to you will then be taxed as income.Contact FRANK.NET on 0860 22 55 38 for a free Salary Protection cover quote. NEXT ON HEALTH24X Weight training for beginners 2017-12-08 12:00 More: Health and your moneyFRANK.NET advertisement From our sponsors Discover treatments that can help reduce acne What can I do to reduce or remove acne marks? Dementia and Incontinence: what you need to know WIN a R2000 Skin Renewal online store voucher!