Over half think protection is ‘unimportant’

Income protection provides a financial safety net in the event you are unable to work due to an accident or illness. Yet it has been reported that over half of people do not think income protection is important and a further 12% don’t understand its value.

This is despite fewer than a third saying they would be able to rely on their savings if they lost all sources of income, and only 19% of households with children saying they could depend on money they had put aside.

Funding current lifestyle:  Reportedly, 4 in 10 (38%) adults said they would be able to find enough money to finance their current lifestyle for up to three months, while 12% said they only had enough for one month. A further 9% had no savings at all.

Meanwhile, more than half of families said they could finance their current lifestyle for up to three months, and 18% said they could manage for up to one month.

Protection pays!

Income protection can pay a percentage of your salary if you are forced to take an extended break from work. This pay out can help you cover essential bills and other costs and can be particularly valuable if you have dependants.

If you’d like advice on finding the right type of cover for your circumstances, please get in touch.

As with all insurance policies, conditions and exclusions will apply

We Can Help!

For more information or help with your mortgage please call us on 01483592743 or 07834173731 Alternatively please send us an email at info@themortgagechoice.co.uk

The Mortgage Choice is an appointed representative of Stonebridge Mortgage Solutions Ltd and can source the most appropriate cover from its panel of insurers with a free review of you overall protection and insurance needs. As with all insurance policies, conditions and exclusions will apply.

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