One of the marked changes over the last year or so is how many more clients are asking us about their insurance cover.
You may have previously seen purchasing insurance as just a formality in order to acquire a mortgage. But the coronavirus pandemic has been an anxious time and it’s natural to want to make sure you have the cover in place to protect your home, your family and your way of life.
We can arrange the full range of policies including home insurance, life insurance and critical illness cover, but the conversation we have been having with clients the most is about protecting one’s income.
Why take out income protection?
Did you know, during his working life, a 34 year old man has a 26% chance of being off work for over two months because of illness or injury? For a woman the risk is even higher at 42%.*
*Royal London risk summary report, risks based on male and female, age next birthday 35, retirement age 65, non-smoker. July 2020.
Protecting the income that gives you the lifestyle you have now is absolutely the most important insurance you should consider. Whether you are buying a house or not, once you depend on a monthly income and need it you should protect it!
COVID has really made people think about this cover as we question ourselves; how long can we last on our savings and now especially how long can our employers/businesses pay us an income for?
An Income protection policy puts you in control of your future financial stability.
What are the benefits of an Income Protection Policy?
- it will pay you an income – usually up to a maximum of 65% of your salary until you’ve either returned to work, retired or passed away.
- it won’t pay a benefit whilst an employer is paying you a salary but it will top up an income up if you’re for instance only receiving 50% of your salary.
So really think about this, having this type of protection will help you sleep at night, knowing the income that pays for your lifestyle, that supports the household, that pays for your children’s lives is protected.
Call us for your free insurance review today
All our clients that contact us for help & advice receive a full Insurance review for free. We will make you aware of your shortfalls in cover and what the costs are to cover them so you can make an informed choice.
Whether you’re looking to take out a new Income Protection or Critical Illness policy or reassess your existing Home Insurance or Life Insurance, trust in us that we have your financial health and stability at the forefront of our commitment to you.
