Do I Need Income Protection?

Here is a simple exercise to see if you really need to protect your income:

1- Work out if you can afford to live without your income. If your income stops because you can no longer work due illness or injury, how will you cope financially?  If you can’t afford to live without your income then it is important to explore ways to protect this. Income Protection Insurance may be the answer.

 

 

 

How much is my income worth?

Calculate how much you will earn before you retire. A 35 year old earning £35000 per year will earn over £1million before retirement. You may be surprised at the results.  Your income may be the most valuable thing that you have. It’s important to look at ways of protecting your income.

What happens to my mortgage if my income stops?

If you can not pay your mortgage payments due to loss of income then this will ultimately lead to repossession of your home. Remember that your mortgage is just one of your household costs. Income protection can cover you for more than this and include all of your monthly expenses.

How does income protection work?

If you can’t work due to any health or medical reason then your policy will pay you a monthly tax free income until you return to work or until the end of the policy.  This can be planned to kick in when your employer sick pay finishes. So if you get 6 months employee sick pay benefit then the policy will be set up to start paying you after 6 months of absence.

Get a quote and advice:

Income protection cover is generally affordable and good value. To get a quote and full advice  please enter your request below:

By completing this form you will receive a phone call from our mortgage adviser who will be able to provide you with a full quotation and advice.

    Now that you have filled in this form why not find out more about us?

    What we do:

    • Search from a comprehensive range of insurance providers for the best options available to you
    • Offer completely unbiased protection advice
    • Home buyer mortgages
    • Remortgages
    • Buy to let mortgages
    • Equity release – expert advice for later life borrowing
    • Life insurance

    What we don’t do:

    • Pay your mortgage – if you do not keep up on your mortgage repayments, your home may be repossessed.

     

     

     

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    Do I Need Income Protection?

    Paul Came trading as The Mortgage Plan is an Appointed Representative of Peritus Private Finance Limited, which is authorised and regulated by the Financial Conduct Authority. Registration number 729282. You can find us on the Financial Services Register here register.fca.org.uk. The Mortgage Plan FCA Registration number is 917638. You can contact us by phone on 0191 3666791 or email paul.came@themortgageplan.co.uk

    If you do not keep up on your mortgage repayments your home or property may be repossessed. The FCA does not regulate some aspects of buy to let mortgages.

    Registered in: England and Wales Reg No. 03490834, Peritus Private Finance Ltd, 1 Bankside, The Watermark, Gateshead, Tyne and Wear, NE11 9SY. The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK. Where you have a complaint or dispute with us and we are unable to resolve this to your satisfaction then we are obliged to offer you the Financial Ombudsman Service to help resolve this. Please see the following link for further details: www.financial-ombudsman.org.uk

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