Income Protection
For everyone, some form of income is essential. Have you ever thought about what might happen if you lost your income either through illness, disability or redundancy?
Some people are fortunate enough to be paid by their employers when they are ill, or to be provided with insurance through employers. However, if you are not lucky enough to have this cover you will only receive statutory sick pay of £75.40 per week (2009/2010 tax year) assuming your earnings normally average £90.00 per week or more. Could you live on this?
Each individual’s circumstances vary, but generally many people do not have adequate protection for replacement of income.
Products are available to replace a good percentage of your income until you would normally have retired.
Your mortgage is probably one of the biggest financial commitments you will ever make. Protection is available to make sure it is paid if your are ill or made redundant. Self employed people can also protect their income in certain circumstances if their business encounters problems.
Please contact me about Income Protection. |
