What Is Income Protection Insurance?
Income protection insurance is designed to replace a portion of your income if you are unable to work. Unlike traditional disability insurance, modern income protection plans like PaydayShield also cover involuntary job loss.
How PaydayShield's Approach Works
PaydayShield uses advanced underwriting technology to assess your individual risk profile and offer personalized coverage. Our plans are designed to supplement unemployment benefits and help you maintain your standard of living during a career transition.
Application: Complete a simple online application with information about your employment, income, and industry.
Underwriting: Our system evaluates your risk profile using industry data, employment stability metrics, and economic indicators.
Coverage: If approved, your policy provides monthly benefit payments during qualifying periods of involuntary unemployment.
Coverage During Job Loss
When you experience a covered job loss event, PaydayShield benefits kick in after a brief waiting period. Benefits are paid monthly and can be used for any purpose — mortgage payments, groceries, utilities, or other essential expenses.