Income Protection

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Income protection insurance (sometimes known as permanent health insurance) is a long-term insurance policy designed to help you if you can't work because you're ill or injured. Still, it shouldn't be confused with life insurance.

Income protection ensures you continue to receive a regular income until you retire or return to work.

It replaces part of your income - if you can't work because you become ill or disabled.

It pays out until you can start working again - or until you retire, die, or end the policy term - whichever is sooner.

There's often a waiting period before the payments start - you generally set payments to start after your sick pay ends or after any other insurance stops covering you. The longer you wait, the lower the monthly premiums.

It covers most illnesses that leave you unable to work - either short- or long term (depending on the type of policy and its definition of incapacity).

You can claim as many times as you need to - while the policy lasts.

It doesn't matter whether or not you have children or other dependents – if illness would mean you couldn't pay the bills, you should consider income protection insurance.

Did You Know?

Each year one million people in the UK find themselves unable to work due to a serious illness or injury (ABI 2017).

Insurers pay out £13.9m per day in income protection, critical illness cover and life assurance which adds up to over £5 billion per year.

Overall, insurers paid almost all protection insurance claims (97.8%) in 2017. 

You're most likely to need it if you're self-employed or employed and you don't have unlimited sick pay to fall back on. We cover the whole of the UK, but if you're in or around Mansfield, Sutton-In-Ashfield or  Chesterfield, we can see you face to face with the rest of the country over the phone.

We love our customers, so contact us to ask for an initial telephone chat about your mortgage needs.  

We are independent mortgage brokers covering Mansfield & Sutton-in-Ashfield. So if you need a mortgage broker in Mansfield or a mortgage broker in Sutton-in-Ashfield, we're here to help.