Income protection is a group of insurance products to ensure that you continue to meet all or most financial commitments, if you are forced to take an extended break from work. If you can’t work because you’ve had an accident, become disabled, fallen sick, or lost your job through no fault of your own, these insurance products provide payments to cover debt repayment, bills and other costs.
This type of cover allows the payment of a percentage of your take-home pay and should be considered if you can’t rely on savings or employee benefits to see you through an illness. You’re most likely to need it if you’re self-employed, or you don’t have occupational sick pay or savings to fall back on.
If you’re interested in finding out more, please contact our team of protection advisers.