Monthly Income is the preserve of financial stability for almost all of us. An interruption to the continued flow of earnings can have a real & immediate effect on daily life. Income Protection looks to provide an alternative income when yours is lost.
Superman Syndrome
You didn’t die! And that’s a whole new issue! You outran the jaws of death, but not without injury, and you are still here!
Income Protection is the most over-looked protection product which would remedy such a scenario. Many people choose to ignore how they would manage the interruption of income due to illness or injury. This is perhaps one of the biggest gaps in the protection market, and arguably one of the most vital protection products.
An essential safety net which pays a replacement income while helping you to get back into the workplace earlier with a range of additional and significant rehabilitation support services. Put simply, lump sum Life and Critical Illness cover are not enough.
We need to go a step further
According to the ABI, 1 million workers a year find themselves unable to work due to serious illness or injury, mental health, musculoskeletal and cancer risks being significant reasons for the claim. Income Protection policies take up only a fraction of the Life insurance market.
Cover periods can range from 12 months, 24 months or for a chosen number of years to suit your circumstances and budget.
The plan will have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.
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Finance Matters Ltd. is an appointed representative of In Partnership the trading name of The On-Line Partnership Limited which is authorised and regulated by the Financial Conduct Authority Finance Matters Ltd. is for UK residents only.