How can you save your rent if you’re able to work?
If you were unable to work due to illness or injury, how confident are you that you will be able to pay your rent still? Unfortunately, no matter what happens to you, rents and bills will still need to be paid on time. This is where income protection may be able to help.
How can income protection help?
Having income protection in place is like having a security blanket in the event that you were unable to work due to illness or sickness.
If you needed to claim on your income protection, you’re likely to receive about 60 – 70% of your earnings before tax. However different types of policies will offer different payment amounts.
Why choose to have income protection?
Income protection isn’t something that someone needs to have but something that many do have. According to insurers LV=, around 48% of people aged 25-44 say they’re looking at income protection as a result of the Coronavirus Pandemic.
This type of protection is quite popular for those who are self employed, work in the public sector or whose employers only offer them statuary sick pay. With statuary sick pay only being £99.35 a week for 28 weeks, this amount won’t be enough for many to live off.
With that £99.35 in mind, would you be able to pay your rent, bills and purchase essentials such as food, personal hygiene items and more?
Who’s entitled to income protection?
Income protection is available to anyone – self employed, a part time employee or full time employee. To obtain an income protection quote, you just need to answer some simple questions and we’ll be able to provide indicative quotes.
If you would like to find out more about income protection, speak to a member of our team today. Complete our income protection enquiry form or call us on 01270 443510 and a member of our team will be in touch whenever is best for you.
This blog is for general information only and does not constitute advice.