Income Protection
A great misconception is if I cannot work then the state will pay for me.
Yes, you may be entitled to certain benefits, but state benefits are designed to cover the bare minimum which most people will find hard to live on. Looking at an income protection policy may be the better way to substitute an income if you are unable to work for different reasons.
Accident and Sickness
If you cannot work due to an accident or sickness, then an income protection policy could be for you. You can determine the monthly amount you will receive, which is usually a percentage of your current earnings up to the providers limits, to cover mortgage payments, household bills, food, and other general essentials to maintain your lifestyle while you are away from work. You can choose how long the policy will pay out for if you are unable to work to make it flexible to suit your needs. We can fully discuss these options with you.
Accident, Sickness and Unemployment cover (ASU)
You could also consider an Accident, sickness, and unemployment policy (ASU). This is also an income protection policy but there are some differences between them.
- They usually have shorter deferred periods.
- Covers redundancy as well as sickness and accident.
- Generally, pay out for a smaller specific time (usually up to 12 months only)
Unemployment only covers in the event you are made redundant.
As with all insurance policies, conditions and exclusions may apply and several factors will affect the premiums. For example, age, health, and your job role. Also, worth considering your workplace benefits as this could affect the cover you need. Speak to one of our expert advisors to discuss all your needs and find the best options for your situation to protect your home.
Mortgage & Protection Advisors
Searching for the ideal mortgage, insurance, solicitor or generally managing your wealth can be a daunting experience.
As an independent broker our services & advice are impartial in helping you find the perfect financial solution that suits your needs… Enter your details below & we’ll be able to get you on the right track straight away!
We offer free initial advice, with no obligation.
Mortgage & Protection Advisors
Searching for the ideal mortgage, insurance, solicitor or generally managing your wealth can be a daunting experience.
As an independent broker our services & advice are impartial in helping you find the perfect financial solution that suits your needs… Enter your details below & we’ll be able to get you on the right track straight away!
We offer free initial advice, with no obligation.