An uncertain future in the work environment is seeing more young people take out insurance cover on their monthly income.According to Liberty's latest claim statistics, a larger portion of people under 33 claimed for income protection last year compared to other age groups.The main cause was due to retrenchments, which accounted for 15.9% of the claims in the age group.Among young people, cancer-related claims made up 12.3% of claims and car accidents 11.9%.Nicholas van der Nest, director of risk product innovation at Liberty, said income protection cover was necessary to protect assets."Should something happen to deter your career path without cover, this could impact the hard work you have put into climbing the corporate ladder or building that business," he added.Hollard Life claims manager Susan Gonnermann said they had identified an increasing trend in suicide and linked it to economic decline.The insurance provider has over the last few years paid R41-million for an average 19 suicides annually.This could increase as Hollard has already had 12 claims arising from suicide since December."It is sad that some people feel that they are worth more dead than alive," Gonnermann said...