How would you cope if you fell ill tomorrow and were unable to work? Would you be able to support yourself and your family? You may consider yourself to be young, fit and healthy but unfortunately no one knows what’s around the corner so it’s important to make sure you’re protected now.
According to recent research conducted by Royal London, consumers are not addressing their protection needs early enough. Under-35s were particularly unbothered about taking out insurance now and would address their protection needs too late in life. It seems as if individuals in their thirties and younger are more likely to insure their mobile phone rather than protect themselves and their family. So, we’re here to highlight the benefits of taking out income protection now:
- If you are unable to work because you have fallen ill, are involved in an accident or become disabled, income protection insurance is designed to provide a tax free income
- Income protection isn’t always expensive. The more risks you cover the more expensive your policy will be, so if you’re currently fit and healthy your policy shouldn’t be too expensive. We’d be happy to help find you a policy that suits you and fits your current financial situation
- Most long term and short term illnesses are covered, however this does depend on the type of policy and its definition of incapacity
- You’re supported until you’re back in work again – or your insurance will pay out up until you retire, pass away or you reach the end of your policy term, whatever comes first
- While you have the policy, you can claim as many times as you need to, so you know you’re always covered
If you wish to discuss protection, talk to First Financial Solutions today. A member of our experienced advisers will be happy to discuss any protection queries you may have and help you find the policy for you. To get in touch call us on 01639 262222 or click here.
*Income protection (with no investment link) has no cash in value at any time and will cease at the end of the term. If you stop paying premiums your cover may end.