A short video by Ndubuisi 'Andy' Egwim advising medical professionals on protecting personal income and livelihood using insurance products. The speaker outlines income protection, life insurance, and critical illness cover as a core (fourth) financial defense strategy and points viewers to a fuller guide on moneywifedoctor.com.
Again, I, I gave this example of a very nice gp, is very active and then he, he had a knee injury and couldn't work, was a local GP and there was no income for six months. And he said to me, Andy, I was lucky I listened to your video about the emergency form. I didn't have an income protection as well as he mentioned. So he just had to, you know, he tried to do some online shopping, you know, like E Commerce. It's really difficult to be building a business where you are desperate for money so you have to fall back to savings. Income protection pays you a payment depending on your premium and the income protection that you actually went for, it will replace your income if for any reason it can't work. So anytime if you are sick, I couldn't work. That's why income protection is for again I've written a full guide on income protection, life insurance and all that. It's on the website of moneywifedoctor.com for free. So this is your number four financial defense strategy. Think about income protection, life insurance, critical illness insurance if you need it. For instance, critical illness is if you have a heart attack or stroke or even cancer, then they pay out a lump sum of money. These are things to really think about. Everyone tells you about car insurance is compulsory but nobody cares or tells you to insure your most valuable asset, which is your life and your income, basically your livelihood and your life.
