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Income Protection Advice

Income protection insurance is a fantastic way to protect your household income should you suffer from an unforeseen injury or illness that prevents you from going to work. Our income protection advisers can help source and secure the most applicable income protection cover for your needs.

What is income protection insurance?

Income protection insurance is a type of insurance policy that will pay a proportion of your wage while you are unable to work due to sickness or injury. The policy will cover all of the period you are unable to work or until you retire, but the percentage of your wage paid out may decrease over time.

Why use an adviser to help consider income protection?

A professional insurance adviser will take the stress and complexities away from securing the right income protection insurance. These insurance policies are not one-size-fits-all and you can make a mistake by taking out cover that is not the most suitable for your job and preferences.

A professional insurance advisor from Moneysprite will work with you to find the most advantageous policy options and provide clear information to make a smart decision.

What are the benefits of income protection?

  1. You still receive income while you recover from an injury or illness
  2. It prevents you from getting into financial difficulty, debts and maybe mortgage arrears
  3. It gives your family peace of mind while you are fit and healthy
  4. Income protection insurance can be customised to your job, lifestyle, and preferences

Do you need income protection insurance?

Income protection insurance is suitable to any worker who wants an extra layer of financial protection in case they are unable to work due to sickness or injury.

Some people should consider it more than others. Those that are self-employed or run small businesses with no sick pay are ideal candidates for income protection cover. Moreover, those that are the main breadwinner of the household with a family that relies on your income to pay bills should also seriously consider income protection insurance.

Who doesn’t need it?

Income protection insurance may not be required if your household is predominantly supported by a partner’s income. It’s also not required if you already have an attractive sick pay package within your employment contract.

What you must tell your insurer before you take out income protection insurance

When applying for income protection cover, you must tell the insurer about any existing health conditions. It’s important to be honest as not disclosing information could invalidate your policy.

What affects the cost of income protection insurance?

The cost of an income protection policy is affected by numerous factors, including your age, health, family medical history and even your occupation/salary.

To protect yourself against the financial instability caused by a loss of income, reach out to one of our Moneysprite income protection advisers to discuss your options. We have advisers from the New Forest to Poole and back across to Eastbourne, London and the South East, and help clients throughout the UK. Our friendly and patient team are here to assist you.

Request a callback from one of our advisers

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