Income Protection

Income Protection Insurance

Most of us have some form of life insurance, home insurance, or critical illness insurance. Why then do so many people not have income protection insurance? The main reasons so many people don't have this valuable cover is that it either hasn't been sold to us or explained fully when we have started other insurances. Without income, we cannot afford the above insurances, mortgages or other essential expenses.

You wouldn't imagine a Taxi Driver without insurance for his taxi, but that same taxi driver probably doesn't have income protection insurance for himself. If the same taxi driver couldn't drive, what use was the insurance on the car?

The point is that our income is the foundations of most of the things we do in life so more of us should make sure that if the unforeseen happens, we have something to fall back on.

Companies like ours are paid commission by income protection insurance providers for arranging policies with them.

Do I need Income Protection Insurance?

• Will your employer continue to pay you a percentage of your salary until you retire if you are off work due to long term illness or disability?
• If you are part of a couple, could you survive financially on your partner's income alone?
• Do you have sufficient savings to fall back on if you are off work due to sickness or an accident?

If the answers to the above questions are no then you should consider income protection insurance.

What is Income Protection Insurance

Income protection insurance would normally protect up to 50 - 65% of your gross (pre-tax) earnings from the risk of sickness or injury. income protection insurance can provide cover for a minimum of 5 years to a maximum policy term lasting until the national retirement age. income protection insurance should not be confused with accident sickness or unemployment cover.

State Benefits simply aren't enough for a normal family.

Without some form of income protection insurance, you should expect a substantial reduction in your standard of living