Could you afford your day to day costs if you were unable to work due to illness? Could you afford your rent, mortgage, bills or groceries? If the answer is no, then you may need income protection.
Income protection insurance provides you with a regular cash payment that replaces part of your lost income if you are unable to work due to illness or disability.
You may need income protection if:
- You are self-employed and would have no source of income if you were unable to work due to illness or disability
- You have limited or no sick pay from your employer
- You do not have another source of income
The reasons people claim Income Protection are a lot more common than you might think. The majority of claims are for the following ailments:
- Back injuries
- Musculoskeletal injuries
- Broken bones or limb injuries
- Pregnancy-related illnesses
- Mental health illnesses such as anxiety or depression
Having a suitable Income Protection plan gives you peace of mind that you can meet your financial commitments while you recover.
You can protect up to 75% of your salary and premiums are eligible for income tax relief.
Contact us today for more information or to arrange a consultation.