What is your most important asset? Is it your car, your house, your toys like a quad bike? You insure those things against potential loss because they are important to you, but do you insure your ability to earn money to pay for all those tangible things you own? This is your most important asset that needs protection, your income. Make sure that your livelihood is protected from an unexpected event such as an accident or prolonged sickness that can keep you from working. Income protection can help you and your family pay the essentials such as rent, electricity, car payment, etc and focus on recovery.
It is very important for businesses to have disability coverage for the owners and key managers in the event one them becomes disabled or sick for an extended period of time and cannot work in the business to keep it functional and profitable.