When first hearing about the idea of income protection insurance, many people wonder how it differs from life insurance. Subsequently, individuals who already have a life insurance policy question whether they also need an income protection policy. In most cases, the answer to that would be a yes. This is because the primary purpose of taking out life insurance is, in general, to protect your loved ones in the event of your premature death - as they are financially dependent on you. Whereas, conversely, income protection insurance is typically taken out to protect your own ability to earn an income,..