Protect yourself, your loved ones, and your home
When you’re planning for the future, it’s important to consider how we would cope if we needed to take time off work due to illness. Remove the uncertainty of how you and your family would cope if you needed to take time off work by protecting yourself with income protection insurance.
How can income protection insurance help?
Whether you suffer an injury or fall ill, income protection insurance would replace your monthly income whilst you’re unable to work. Once you’re back on your feet, you can return to work but whilst you’re having to take time off work, you can rest assured that your mortgage, bills, and any other outgoings are completely taken care of.
Your income protection insurance policy can be tailored to fit your circumstances, for example, tailored around any work benefits and will continue to pay out until you’re able to return to work.
Rest easy today and in the future
None of us like to imagine a time in which we might feel unwell or be so injured that we can’t work, but an income protection insurance policy allows you and your family to enjoy financial security and stability in the meantime. Here at The Mortgage Pod, our expert mortgage brokers can help you to find the perfect policy to suit your needs.
It’s always a good idea to have emergency savings, however, a loss of income can quickly lead to paying essential bills and mortgage repayments becoming a struggle. Income protection insurance provides complete peace of mind that you and your family will continue to have financial stability through your illness or injury.
Should you have critical illness cover as well?
Whilst it’s not essential or even a requirement for your mortgage, critical illness cover can complement income protection insurance to prove total peace of mind for you and your family. No one wants to be in a position where they’re unwell or injured and worrying about the financial impact of taking time off work.
Our knowledgeable mortgage brokers can work with you, researching the full market according to your needs and creating a policy perfect for your needs.
What else do you need to know?
How does income protection cover work?
If you’re unable to work due to sickness or an injury, then income protection insurance will pay you a regular payment until you return to paid work or you retire.
Is income protection insurance the same as critical illness cover?
No, critical illness cover is a type of insurance that only covers a selection of critical illnesses (defined by insurers) and provides you with a one-time pay-out instead of regular payments.
Do I have to go to a mortgage broker for income protection insurance?
No, you can shop around for income protection insurance and choose your own policy without the support of a mortgage broker. However, a mortgage broker can help you to access the entire market and a range of different insurers whilst also processing your mortgage application. Our expert team of mortgage brokers at The Mortgage Pod are well placed to help you to choose the best policy cover for your needs.
How much does income protection insurance cost?
There are so many factors that can make the cost of income protection insurance vary, for example: the level of coverage, your personal circumstances, and your age. There will also be factors that can reduce the cost of your income protection policy, such as the premium and the coverage you require.