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income protection

Income protection, also referred to as disability insurance or income replacement insurance, offers a crucial financial safety net in the event of an accident or illness. This type of insurance provides a predetermined portion of your salary on a monthly basis, which can be utilised to alleviate debt obligations, cover bills, and address additional expenses that may arise during a period of incapacity. 

Importantly, you are actually much more likely to claim on an income protection policy than on life or critical illness cover so it’s very much worth looking at.

It is particularly beneficial for those in hazardous sectors like agriculture or construction, income protection ensures that mortgage payments and other financial commitments remain covered, allowing individuals to focus on recovery without financial strain. It’s important to understand that income protection applies to uncontrollable events, such as accidents or illnesses, and does not cover intentional self-harm or termination of employment.

Income protection policies typically pay out a percentage of your pre-disability income on a monthly basis if you are unable to work due to illness or injury. The coverage duration can vary, with policies generally providing benefits until you can return to work, reach retirement age, or the policy term expires. 

Additionally, some policies offer additional features, such as partial disability benefits or rehabilitation support, to aid in your recovery and facilitate a timely return to work.

Benefits of Income Protection

Income protection offers essential financial security by providing a steady stream of income to cover crucial expenses such as mortgage or rent payments, bills, groceries, and other living costs. This assurance of financial stability brings peace of mind, knowing that you have a reliable source of income to address your specific financial needs and priorities during challenging times. 

With income protection, you can maintain your standard of living and avoid depleting savings or relying on government assistance while recovering from illness or injury. This continuity of lifestyle ensures that you can focus on your recovery and well-being without the added stress of financial strain, providing invaluable peace of mind during difficult periods.

Why Income Protection is Essential

Income protection is essential for individuals and families because it provides a crucial layer of financial security in the face of unforeseen circumstances. Without income protection, illness or injury could lead to significant financial hardship, jeopardising your ability to meet financial obligations and maintain your quality of life. By investing in income protection, you can protect yourself and your loved ones from the financial consequences of disability, ensuring that you can weather any storm that life throws your way.

How We Can Help

Income protection is a vital insurance product that provides financial security and peace of mind in case you are unable to work due to illness or injury. With income protection, you can rest assured knowing that you have a reliable source of income to cover essential expenses and maintain your standard of living during challenging times. 

Whether you’re single, married, or have a family, income protection is an essential tool for protecting your financial future and ensuring that you can weather any storm that life throws your way.

Simply get in touch with us by phone, messenger or email and we’ll book an initial consultation either in person at the Belper Office or over a video call anywhere in the UK. We are here for you when you need us to make the process as stress-free as possible.

RISK WARNINGS: As with all insurance policies, conditions and exclusions will apply