Income Protection Insurance
Why Consider Income Protection Insurance?
Income protection insurance is a popular choice, whether you’re a single parent, self-employed, or simply want financial security, this type of cover provides peace of mind by ensuring you have an income if illness or injury prevents you from working.
This insurance replaces a portion of your salary, helping you cover essential living costs like rent, mortgage payments, and groceries while you recover. Without it, you might need to rely on savings, which could quickly run out. If you have dependents or shared financial responsibilities, income protection can provide stability, ensuring your loved ones are supported even if you’re unable to work.
How Income Protection Insurance Works
Choosing the right policy involves selecting a suitable monthly benefit amount, waiting period, and cover duration. The monthly benefit should be enough to cover your essential expenses, such as household bills and daily necessities.
Many claims arise from common health issues like musculoskeletal conditions, which accounted for 34% of all claims in 2023. This highlights the importance of having financial support in case of unexpected illness or injury.
Getting the right policy is straightforward with expert advice. A free initial consultation with a protection adviser can help you understand your options, ensuring you choose the best cover for your needs and future financial security.Speak with a Protection Adviser now
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for arranging a mortgage. The actual amount you pay will depend upon your circumstances. The fee is up to 1.5% but a typical fee is 0.3% of the amount borrowed.
Mortgage Advice Bureau is a trading name of Jigsaw Financial Services Limited which is an appointed representative of Mortgage Advice Bureau Limited and Mortgage Advice Bureau (Derby) Limited which are authorised and regulated by the Financial Conduct Authority.
Jigsaw Financial Services Limited. Registered Office: Leigh House, 28-32 St Pauls Street, Leeds, West Yorkshire.
Registered in England Number: 04645880