What is the difference between Temporary and Permanent Income Protection?

Income Protection (also known as disability cover) can be divided into two types:

• Temporary Income Protection: Temporary Income Protection will ensure that you are protected against a temporary disability (a disability that lasts less than 24 months). If necessary, it will also help you to survive the permanent disability waiting period.
• Permanent Income Protection: Permanent disability cover will provide you with an income should you become permanently disabled. We believe that permanent disability should be addressed through a combination of monthly income replacement benefits (known as Permanent Income Protection) and a once-off lump sum benefit (known as Capital Disability). This will ensure that you are covered for the different risks associated with a loss of income due to a permanent disability. FMI’s Permanent Income Protection also provides cover for long temporary disabilities (a disability that lasts longer than 24 months but is not permanent).