5 Things you need to know about Income protection

Income protection is a type of insurance that provides financial support if you are unable to work due to illness, injury, or disability. It typically replaces a portion of your income, helping you cover essential expenses like bills, groceries, and mortgage payments. This coverage is designed to offer peace of mind and financial stability during unforeseen circumstances, ensuring you can maintain your lifestyle while recovering or adjusting to a new situation.

5 Things you need to know about Income protection #

1. It pays out a monthly benefit if you are off work through accident or illness so you have the money to pay your mortgage and household bills.
2. It doesn't just pay out for physical injuries but also any sickness including mental health issues
3. There is no time limit on how long it will pay out for if you choose the full policy
4. Income protection will NOT pay out for redundancy or job loss
5. You can choose how much will be paid out each month depending on your individual circumstances.

Income protection is now being spoken about significantly more (mainly down to the pandemic when people realised how little sick pay they received - if any - and it caused them financial problems), but still not enough people know enough about it.

Come and have a chat with us and let us tailor a policy just for you based on your occupation, income and health. It may be cheaper than you think!