How to create regular source of income for family?

How to create a regular source of income for a family?

The ultimate goal of our studies, work, or job is to earn income. People are doing many jobs and businesses to generate income for their daily life needs. Is there any way to make this income regular and available forever?

Normally we have a backup of different commodities in our life to avoid any hassle like we have gasoline generators as a backup of electricity،  we have a fifth or spare tyre in our cars, we keep grocery of one week in store as a backup of kitchen، but have we a backup of our income?

Most of us will say no and others even don't have any idea about income backup.

Financial studies say we can divide our society into 04 categories as per their income.

1۔ Elite class

2۔ comfortable lifestyle 

3۔ Hand to mouths 

4۔ Living on Charity

Today، if you are leading a comfortable life it's your struggle of several years you have spent a lot of sleepless nights to gain this class۔ There is a harsh reality which nobody wants to think but unfortunately,  nobody can avoid it۔ your income can not remain constant۔ if it's going up very fine rather great but if it's declining then it's alarming and What's up if it stops???

There are four unseen and uncontrollable factors that can reduce or kill your income permanently۔ These are:

1۔ Disease 

2۔ Disability 

3۔ Death

4۔ Old age

Let's take the instance of disease to comprehend۔ If a breadwinner of the family got victim of any critical disease، what will be the circumstances?

1۔ He will be hospitalized.

2۔ His income will stop.

3۔ Household expenses will not stop rather increase because of the medical expenses.

4. Standard of living will move downwards

What is the solution?

Here he needs a backup of income. What so ever are the circumstances, his income must not stop. The only solution available in the financial market is life insurance. The insurance companies provide income protection plans which will provide his family the same money which he was earning before the mishap.