Income Protection
If you cannot work through long-term sickness or disability, severe pressure is placed on your ability to pay bills and put food on the table.
Income protection policies are often overshadowed by their more glamourous life and critical illness cousins. The reason being is it harder to imagine being off work for years than suffering death or a dread disease. This does not mean Income protection is any less important.
Whereas life and critical illness payouts are largely uncapped, Income Protection plans will only pay a maximum percentage of your pre-disability income. I often see people who are insuring for more than they can receive, as well as others whose cover is now pitifully low due to their income outgrowing their cover. Advice is really important. This type of cover is VERY affordable to young people but becomes very expensive with age. So young people, get the cover now, whilst it is still affordable.
60 Second Case Study: Many thousands of pounds saved...
Mrs J had just lost her father and was about to instruct a high street bank to do the estate administration for an exorbitant fee. Luckily, she spoke to us first and we put her in touch with a probate specialist who did it with a saving of £14,500 on a £500,000 estate.
If you want to benefit from a lower-cost, fixed-fee probate service, please do get in touch.