Insurance
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Three Reasons to Get an Income Protection Insurance

Many people worry that they could not survive on their savings alone, and the thought of skipping work due to being sick or injured gets people paranoid to the point that it created problems that weren’t even there in the first place. Although contractors’ salaries are higher than your average office worker’s, they are the same when it comes to surviving based on savings alone. 

Fortunately, there is a lifeline called Contractor income protection, which covers up to 80 percent of their monthly salary when they’re too sick or injured to work. This type of insurance comes in handy during emergencies and is a good safeguard in times like this where a global pandemic threatens us. Check out the other reasons to get an income protection insurance below:

It Helps Secure Your Finances

Paying Mortgage

We know that you got payments to make; whether it’s your monthly bills, car payment, or your house’s mortgage payment, it all will fail without sufficient funding. But when we are struck with a stroke of bad luck like being involved in a car accident, having a bad fall, or simply contracting the virus, chances of us needing a long time to recover are pretty high, which means we won’t be able to work and earn our pay. 

The good news is, if you have an income protection insurance, you will still be able to get your monthly payment for up to 80 percent that includes your pension, dividend, and national insurance contributions. That way you can still make payments for all of your dues even when you’re off work.

It Covers Both Physical and Mental Health

Some insurances won’t cover one or the other, and it could be frustrating because we don’t know what health problems we will have in the future, and certainly no one plan to have health issues. However, the beautiful thing about income protection insurance is that they don’t differentiate your health problems; they don’t limit themselves to cover only your physical or mental health, making them a superior insurance choice to get!

It Helps You Put Your Mind at Ease

Recovery

Being unable to work while stuck convalescing in bed can frustrate an individual to the point that their health could take a turn for the worse. Because they can’t do anything with their situation, they could have breakdowns out of their doubt and uncertainty like “How am I supposed to pay for my expenses?” or “Will my savings be enough?” that certainly won’t help them recover faster. 

However, there would be no need for concern when your name is on an income protection insurance. An income protection insurance helps keep stressful times more enjoyable because you know that they have your expenses covered, so you can focus on recovering!

The Bottom Line

If you’re unsure if you can live on your savings alone, then you should probably get yourself covered with an income protection insurance to prepare you for a rainy day. Of course, no one plans to get sick or injured but these things don’t exactly come with a schedule, so it’s best that we prepare a lifeline to protect our finances when they occurred.

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cryptocurrencies
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Mistakes to Avoid Choosing a Crypto Exchange

Investing in cryptos can be a very profitable undertaking, but at the same time, it can prove to be costly if you make a small mistake. Cryptocurrencies are not the same as other traditional investment options where you have some guarantee when you invest there. If you are not careful, you can lose all your crypto to cybercriminals, so you need to work with a reputable crypto exchange.

There are several crypto exchanges out there, some of them being run by fraudsters to prey on unsuspecting investors. Most of these exchanges offer completely different crypto to attract new investors. That’s why you need to learn about the various digital currencies available to avoid being scammed easily.

Here are the top mistakes to look out for when choosing a crypto exchange:

Choosing a New Crypto Exchange

not checking if an exchange is allowed in your countryMost people who have lost their money to fraudsters while investing in crypto opted for new crypto exchanges. Not all of these sites have been created for crypto trading, as some aim to defraud people. That is why you should choose a crypto exchange that has already been tested.

Some of these new exchanges will operate smoothly at first, but you will realize that they cannot go through when it comes to withdrawals. Also, ensure that the crypto exchange you choose deals with all the top digital currencies.

Not Confirming If the Exchange Is Allowed in Your Country

This is one vital factor you should check on before you sign up for a crypto exchange. If an exchange is incorporated under the company’s act of your country, you are guaranteed they have all the licenses required to run the business. You can also check whether there are any laws or regulations in your land against cryptocurrencies to avoid losing your money as soon as you deposit in a crypto exchange. Choosing a crypto exchange registered in your country allows you to follow a legal discourse if your coins have been withheld.

Choosing an Exchange That Is Not Secure and Safe

using an exchange that is not safe and secureHacks on some crypto exchanges have resulted in the loss of billions. It will be sad for you to think that you have made money trading in crypto only to be hacked and lose it all. That is why it is vital to check on any crypto exchange’s security protocols before signing up with it.

Choose platforms that use high-end user encryption to log in. This way, you are guaranteed that your money is safe and fraudsters cannot access your details.  

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