We very often insure everything else in our lives, except the most important thing of all; our income.
Without an income, life can become extremely tough. Making sure your income is protected should accident or illness occur over the longer term is crucial in negating the risk that you cannot pay your mortgage or rent, regardless of the situation.
Income protection policies can provide a tax free income on a monthly basis, to replace up to 65% of your original earnings. This can be set up to be paid right up until retirement, or you are able to go back to work and earn a salary again. This can be tied in with your existing benefits (if you receive any from your employer) to ensure that you never get to the point where you have no income.
With statutory sick pay in the UK currently at £96.35 a week, would this be enough to pay your bills and maintain you and your family’s lifestyle? It’s our professional responsibility to ensure that your home and family are protected and that you are aware of the risks involved with taking on a mortgage. We can discuss and help assess your circumstances with you to discover if Income Protection Cover is relevant for you and what level of cover would be most appropriate.
Please contact us to discuss your Income Protection requirements.