Income protection
What is income
protection?
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Sometimes referred as permanent health insurance
income protection is a long-term insurance policy that
is designed to help if you can not work due to an injury
or long term illness.
This insurance ensures you receive a regular income until you
return to work or retire. A few facts about this insurance are:
- It can replace part of your income.
- It will continue to payout until you are able to work again.
- It can cover most illnesses that leave you unable to work
- You can make a claim as many times as you need to.
Do I need income protection?
Research has indicated that over one million workers
each year find themselves unable to work due to an
injury or become seriously ill.
With this type of insurance it generally does not matter if you have
any dependants, in most cases if you are unable to work you would
find it hard to pay monthly bills if no savings are in place.
For selfemployed
people you generally do not have sick pay from an
employee so are reliant on the income you produce. Having
income protection can become essential for those reliant on
themselves as a back up for the unexpected.
A financial adviser will help identify your income protection needs,
they will then research the market for the most relevant and
affordable cover. It is important to compare premiums as these can
vary with each provider.
Independant Financial Advisers
- Pension’s & Retirement planning - Pension Advice - Retirement Planning - Investment Advice
- Insurances - Life Insurance & Critical illness Cover - Key Man Insurance - Income Protection
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- Wills & Trusts - Will Writing - Trusts writing - Estate Planning - Inheritance Tax Advice (IHT)
Millennial Wealth Ltd trading as Better Financial Solutions is authorised and regulated by the Financial Conduct Authority (www.fca.org.uk/register). Financial Services Register No: 914746 Registered in England & Wales, No. 11557299 Registered Address: Unit 11, Flag Business Exchange, Vicarage Farm Road, Peterborough. PE1 5TX. The information contained within this site is subject to the UK regulatory regime and is therefore targeted primarily at consumers based in the UK.
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