Income Protection Insurance

It is likely that your current lifestyle relies heavily on your regular income. That is why it is important to consider what would happen should your income be lost due to illness or injury. Would you still be able to make your monthly mortgage repayments, pay your utility bills or continue your standard of living? What if your income is required to settle outstanding debts, such as credit cards or other loan repayments?

With Income Protection Insurance, you can protect yourself against the loss of income due to illness or accidental injury, therefore should you be unable to work for a period of time, you will receive a regular income to help you continue your lifestyle.

Family outside enjoying themselves. Protect your family with Income Protection Insurance from Spectrum Financial Advice in Essex.

Income Protection Insurance

 

Spectrum FA protection specialists are experts in the field of Income Protection, so we will guide you through the process. Our advisors provide a bespoke service that is tailored to your unique needs, so you can rest assured knowing that you are protected when you need it most.

Spectrum FA have access to a wide range of insurance providers, so our experts can advise you on the most suitable policy for your individual circumstances. By giving you the flexibility to select the level of cover you require and the terms of your policy, you remain in control at all stages of the process.

If you would like to find out how Spectrum FA could help you to secure your financial future, then please get in touch with us today to arrange a free, no obligation review of your needs. You can contact us via email at info@spectrumfa.co.uk, via the phone on 01279 315 013, or by completing the contact form on the website.

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Reliable Cover

Spectrum FA’s advisors provide expert protection advice on policies from the leading insurance providers, so you get reliable cover at competitive prices.

Flexible Terms

Many policies come with added features as standard, as well as a optional extras, giving you the flexibility to select the level of cover that is right for you.

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Impartial Advice

Spectrum FA work only for the benefit of our clients, so you get completely impartial advice that puts your own needs first.

Frequently Asked Questions

What is an Income Protection Insurance Policy?

Income Protection Insurance is a means of protecting yourself against the loss of your income due to illness or injury. In the event that the person insured on the policy is unable to work for a period of time due to illness or injury, the policy will pay a percentage of the insured’s income, on a monthly basis, for a pre-agreed term.

How does an Income Protection Policy work?

An Income Protection Policy pays a percentage of the insured’s income if, during the policy term, they suffer a loss of earnings due to illness or injury.

Income Protection Insurance is available to those who are employed or self-employed on a full or part-time basis, with the policyholder being able to choose the following:

  • The monthly benefit amount
  • The point at which the benefit will be received
  • How long the benefit should be received for
  • The term or duration of the policy

The level of cover chosen and the cost of the premiums will depend on the needs of the policyholder or person insured, although many Income Protection Insurance policies come with additional features, such as waiver of premium or back to work benefit. Once the correct level of cover is in place, the policyholder will commence paying the insurance premiums. In the event that the person insured is unable to work due to illness or injury and the terms of the policy are met, the Income Protection Policy will pay the agreed amount of money each month, to replace their lost income.

Why is Income Protection Insurance important?

The sudden loss of an income due to illness or injury, particularly on single-income households, or on households where one partner earns significantly more than the other, can have a huge impact on their standard of living. Income Protection Insurance is vital to protect both the insured and their family from the negative effects of a sudden loss of income due to injury or illness, ensuring that their current lifestyle can continue.

If you do not have any plans in place to protect yourself against the loss of income in the event of illness or injury, then an Income Protection Insurance Policy should be a serious consideration.

How can I get an Income Protection Insurance Policy?

Due to the flexibility and wide-ranging choice in these policies, Income Protection Insurance is an area that requires expert protection advice.

With many years’ experience Spectrum FA are experts in this field and will help you navigate the range of Income Protection Insurance policies available. Our friendly advisers will guide you through the process, taking your individual circumstances into account and will recommend the most suitable policy to ensure you receive the correct level of cover for you and your family.

If you would like to find out more, then please speak to one of our team today about Income Protection Insurance or arrange your free, no obligation review. You can contact us by email at info@spectrumfa.co.uk, by phone on 01279 315 013, or by completing the contact form on the website.

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