Protecting your income in the event of ill health

If you could no longer work or had to take a significant amount of time off due to a serious accident, illness or a disability, could you cope financially?

Do you know how long your savings would last if you received bad news about your health?

Although many people think critical illness cover is sufficient to protect them if they are diagnosed with cancer or unwell for a long period of time, in reality this is not always enough. While these insurance policies promise to pay a lump sum if you become critically ill with a specific illness, a regular income may be your preferred option to meet your monthly living costs.

Income protection insurance is flexible and varies depending on your individual circumstances. You can decide how much money you might need if you couldn’t work any more and how long you would like the payments to last. These decisions determine what you pay for your premium or policy. There will be specific rules within the terms of your cover about what you can make a claim for. But if you are legitimately unable to work it will provide a lifeline that enables you to continue paying for day-to-day expenses like utilities, running a car or even buying food.

At Private Wealth Mortgages we have insurance experts who can help you choose the right income protection cover for your own personal circumstances. To talk to one of our insurance brokers or advisers, call us today on 01403 270006.

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Private Wealth Mortgages Ltd is authorised and regulated by the Financial Conduct Authority. FCA Number: 445980

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