We all worry about what would happen to our family, our home, if we were unable to work: accidents and illness could befall at any time. With Income Protection, however, you can be prepared for any eventuality.
What is Income Protection?
If you are unable to work due to illness or injury, Income Protection ensures that up to 70% of your lost earnings will be covered, paying out a tax-free income for the duration of your incapacity until either you return to work or the policy ends at retirement age.
This policy is a great comfort should the unforeseeable occur, providing a regular income that ensures your monthly outgoings and financial obligations are met, meaning your mortgage and way of life is not at risk.
I work part-time. Can I still apply?
Anyone can benefit from Income Protection, whether in full- or part-time employment. Your entitlement to and provision of sick pay varies with your employer, so knowing you have added protection when you need it can be a great relief.
I am self-employed. Is it for me?
Income Protection is highly recommended for those who are self-employed, as you cannot provide sick pay to yourself! If you cannot work, you cannot earn; therefore, an Income Protection policy is essential.
Income Protection cover can be adjusted to meet your individual needs or to become compatible with any existing policies you have purchased. To discuss the different types of Income Protection cover available or learn how a policy can benefit you, give Renshaw Mortgage Solutions a call now.