Insuring Your Income

Most people’s lives are dependent on their income. From paying the monthly bills, to having some fun in your life, maintaining your monthly income can be the cornerstone of your life. Without your salary being paid each month, how quickly would your life begin to unravel?

If you are unable to work through accident or sickness, you may be eligible for Incapacity Benefit. Not many people realise, however, that this benefit for the 2007/2008 tax year is no more than £82 per week, and starts at a much lower £61.35 per week.

There are alternatives, and a variety of different insurance policies that can target particular types of income loss. Mortgage Payment Protection Insurance can meet your mortgage payments for a period of time, while the far more comprehensive Income Protection gives you an income to use as you see fit.

Selecting the correct kind and level of policy to protect your income means accurately assessing your needs. There are several features available with these policies that can impact on their cost, and more importantly, their suitability.

You will be able to select when the benefits start to be paid and in some cases you are able to choose how long they are paid for. In addition, you may be able to select if the income stays level or increases while some policies allow you to alter the amount of income you are protecting as your salary increases.

With all there features, it is important to select the correct kind of policy, the correct level of cover and the correct additional features. Please use the contact us feature if you have any additional questions or queries, or alternatively call 02380-004444 for any additional information.

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