Insurance to cover your lost earnings should you be unable to work due to illness or injury
Speak to one of our experienced brokers who can tailor make a package that will suit your individual needs and budget.
If you can’t work due to accident, sickness, disability, illness or an injury, think about how long your savings would last you, then think about how you would carry on paying your bills after your savings had gone – Or worse still, how you would pay your bills if you had no savings to fall back on. Pretty scary right? Income protection will pay you a monthly or a weekly sum to help you cover the cost of your lifestyle, your bills, financial commitments and anything else generally you spend money on.
With the peace of mind that this protection offers, you can focus all your efforts on looking after your health, rather than stressing about your finances.
FAQ
1. What is Income Protection, and why do I need it?
Income Protection is an insurance policy that provides a regular income if you are unable to work due to illness or injury. It ensures that you can meet your financial obligations and maintain your lifestyle during such periods.
2. How does Income Protection differ from other insurance types, like Critical Illness Cover?
Income Protection provides ongoing financial support for a wide range of illnesses and injuries that affect your ability to work. Critical Illness Cover provides a lump sum for specific serious illnesses.
3. Who should consider purchasing Income Protection?
Income Protection is valuable for anyone who relies on their income to cover living expenses, especially those without substantial savings or employer sick pay benefits.
4. How long does Income Protection coverage typically last, and when does it start paying out?
The coverage duration varies, but it often lasts until retirement age. Payouts usually start after a waiting period, known as the deferred period, which you can choose when taking out the policy.