Income Protection

Family is important and that’s why it’s best to get an expert advice to help protect what matters, when it matters!

Everybody is different, and we all have different lifestyles. If you lose your income through illness or accident, you want cover in place that’s right for you. We all know that when you stop, regardless of what happens to you, your life unfortunately doesn’t.

What is Income Protection?

An Income Protection plan is designed to pay out a regular monthly income if you suffer a loss of earnings due to illness or injury which stops you from working. This plan will continue to pay out monthly income if you are unable to return to work or up until the policy ends (typically your normal retirement age).

This type of protection is quite often seen as the base of any financial planning, as it is likely that other plans will have to be given up if you do not have sufficient income coming into the household.

Who can have Income Protection?

It’s designed for anyone who is working (employed or self-employed). It’s worth pointing out that even if your employer provides you with sick pay, it is unlikely to last for longer than twelve months, so ongoing protection is essential. Plans can be tailored to fit in with any existing protection you might have as well as your budget and how long they pay you for.

There are many different providers in this market and so it’s important we assess your individual requirements and match you with the right provider that suit your age, occupation, and medical history.

THE STATE CAN HELP – BUT IS IT ENOUGH?

If you are unable to work, income-related benefits from the Government may be available, but they are limited.

  • Statutory Sick Pay is currently £96.35 per week.
  • Jobseeker’s Allowance for a single person over 25 is £74.70 per week

themortgagechoice are experienced mortgage brokers based in Byfleet, Surrey. We work with clients in Guildford, Woking and across the United Kingdom.

As with all insurance policies, conditions and exclusions will apply.

We’d love to help. Please call us today or request a call back with your requirements.

Get in Touch, and let us start your search. Today.