Income Protection
Why should I have Income Protection?

There is a worrying preconception that Income protection is only for those who need to replace a lost income to pay for their Mortgage payments should they become ill or lose their jobs.

Let us assume then, that you don’t have a mortgage and you become ill and are never able to work again for the rest of your life due to a condition that renders you disabled. Would you be happy to rely on state benefits? Would you be happy for your personal wealth that you have worked so hard for to be spent because the state requests you do so before they allow you to claim the benefits you would ordinarily be due.  So you have used up your savings and with them go your life long ambitions of retiring in the sun, giving your loved ones the best education or start in life.

Having no mortgage will therefore afford you the ability to pay for protection and protect your wealth.  Believe it or not there are some excellent types of protection that can replace a large proportion of your income in the event of you being unable to work right up until you retire.

Unemployment cover is probably more widely familiar to the general public as it is commonly found with Hire purchase agreements and personal loans etc. These types of policy are mainly there to meet the cost of your Mortgage or Loan repayments and pay out for normally a maximum of 2 years. Care should be taking with these types of policy as they are not suited to all of us.

Again, we can assess your circumstances and ensure you have the right cover and cover that meets your own priorities by researching the whole of the market.