Could You Or Your Family Survive Without Your Income?

Could you continue to cover your basic day-to-day living costs, household bills, rent or mortgage repayments if you unexpectedly suffered an illness or had an accident that stopped you from working? How about if you were out of work for months on end? If the answer to this is no, then you can’t afford to not consider income protection (IP).

Each year one million people in the UK find themselves unable to work due to a serious illness or injury (ABI 2017).

Income protection insurance is designed to give you some cover if you can’t earn an income for those reasons. If something happened to you would you be able to survive on savings, or on sick pay from work?

Many think this won’t happen to them, but it’s important to recognise that nobody is free from the risk of illness and accidents. Most people have not given much, if any, thought to how they would handle their income suddenly stopping due to accident or illness, and the long-term effects this could have on their finances. When interviewed by Which?*, only 9% of people said they have some form of IP, compared with 41% who have life insurance and 16% who have private medical insurance (PMI). This is shocking when you consider that research has shown up to 25% of us could be affected in our life.

This is where I ncome Protection comes in. Income protection is a long-term insurance policy to help support you if you can’t work.

It replaces part of your income if you can’t work because you become ill or disabled.
It pays out until you can start working again, or until you retire, die or at the end of the policy term (whichever is sooner).
There’s a waiting period before the payments start. Most people choose to set their payments to start after their sick pay ends.
It covers most illnesses that leave you unable to work, either in the short or long term (depending on the type of policy and its definition of incapacity).
You can claim as many times as you need to, while the policy lasts.

It ensures you continue to receive a regular income until you retire or are able to return to work. It doesn’t matter whether or not you have children or other dependants – if illness would mean you couldn’t pay the bills, you should consider income protection insurance.

It could help safeguard you and your family against an unexpected loss of income so you have one less thing to worry about, leaving you to focus on your recovery. The plan will continue to support you until you are well enough to return to work, or until you reach the end of your plan- it’s your choice. Imagine the peace of mind you would have, knowing that if anything were to put you out of work, you would have a regular replacement income deposited straight into your account?

Find out how much your income protection cover could cost by applying for a free, no-obligation quote below…

Here’s How You Do It:

Step 1: Click your gender below.

Step 2: Once you go through a few questions, you will have the opportunity to compare quotes and get covered from today!

*https://www.which.co.uk/money/insurance/income-protection-and-ppi/guides/income-protection/income-protection-explained