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Income Protection

Income Protection provides a regular income if, due to illness or injury you can no longer work,resulting in a loss of earnings.

Statutory sick pay may not cover your monthly costs and your employer may not pay you indefinitely. To make sure you can keep up with your mortgage or other commitments, income protection can offer great peace of mind.

The two most common reasons for claims are mental health problems and musculo-skeletal problems, which anybody can be susceptible to. To make sure you have the cover in place, that is right for you, have a chat today with our friendly team on 01702 619 221.

 

Should I consider getting Income Protection Insurance

Life is full of unexpected events. That’s why income protection insurance (also known as IPI) is great for giving you financial security when you need it the most.

Over 60% of UK working households would see a fall in their income if the main earner has to stop working due to ill health.

What is Income Protection Insurance?

Income Protection provides a regular income if, due to illness or injury you can no longer work,resulting in a loss of earnings.

Generally, this policy pays out after you’ve been off work for 6 months. This period is known as a ‘deferred’ or ‘waiting period’. Some of the most common waiting period times are between 4 and 52 weeks. The longer your waiting period, the cheaper your insurance will be.

Why should you take out Income Protection Insurance?

Taking out an IPI policy is wise for anyone who wants to ensure their salary is covered, preventing falling behind on mortgage repayments, should you find yourself unable to work due to incapacity.

Statutory sick pay may not cover your monthly costs and your employer may not pay you indefinitely. To make sure you can keep up with your mortgage or other commitments, income protection can offer great peace of mind.

The two most common reasons for claims are mental health problems and musculo-skeletal problems, which anybody can be susceptible to.

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