Protection
Income is usually the asset everything else depends on.
Most financial plans assume income continues. Income protection strategies begin by examining what would happen to a household's commitments if that assumption changed.
What it is
Understanding Income Protection.
Income protection refers to strategies intended to address the financial impact of a disruption to earned income.
Structures vary by occupation, employment status, and how income is currently generated.
Who it may be relevant for
- Salaried professionals with fixed monthly obligations
- Self-employed individuals and contractors without employer benefits
- Households where one income carries most fixed costs
- Commission-based or variable-income earners
Considerations
Common financial considerations.
These are the inputs most often reviewed during an analysis. None of them are recommendations on their own.
Fixed monthly commitments
Housing, credit, education, and care costs that continue regardless of earnings.
Reserve depth
How long available reserves could cover obligations without income.
Existing employer benefits
Definitions, waiting periods, and duration limits differ significantly.
Income composition
Base salary, bonus, distributions, and self-employment income may be treated differently.
Questions to consider
Worth thinking through first.
- 01How long could my household operate without my income?
- 02Which obligations are fixed and non-negotiable?
- 03What does my existing employer coverage actually cover?
- 04How is my income composed, and is all of it protected?
The process
How the analysis works.
- 01
Start With Your Situation
Tell us what you're trying to protect.
- 02
Complete Your Financial Analysis
Provide information about your financial situation, goals, obligations, and priorities.
- 03
Review Your Options
We evaluate relevant strategies based on the information provided.
- 04
Build Your Protection Strategy
Determine which solutions are appropriate for your circumstances.
- 05
Implement & Review
Put the selected strategy in place and periodically review it as circumstances change.
FAQ
Frequently asked questions.
The information on this page is general in nature and is not individualized financial, legal, or tax advice.
Related
Other strategies to consider.
Life Insurance
Financial protection designed to help provide liquidity and support for the people who depend on you.
Mortgage Protection
Explore ways to address mortgage obligations and housing-related financial risk.
Final Expense
Planning considerations for end-of-life expenses and the financial impact on loved ones.
Financial analysis
Your financial protection should start with your situation — not a product.
Before discussing solutions, we start by understanding your financial picture, priorities, obligations, and goals.