Income protection is our favorite type of cover. This cover replaces your income should you be unable to work due to illness or accident and you cannot work. Unlike Critical Illness cover, Income Protection Insurance does not rely on you suffering a specific condition in order to be able to make a claim. If you are unable to work, even from stress/anxiety/depression, you will be able to make a claim (presuming you have not suffered from this previously). Just bear with us for a few seconds, you pay, with your income, a payment each month to insure your car, your phone, possibly the fridge, the cat but not the income that pays for all these? Insure the income that pays for all these. Make sure you make time to get this sorted, a conversation with us to get the ball rolling takes less time than a supermarket shop.
In our humble opinion all working adults in the UK should have this type of Income Protection Insurance cover. There are many ways of setting up a policy, you can select up to 60% (sometimes a bit more) of your monthly income to protect. Sensibly, you can’t insure all of your income as there has to be some incentive to get back to work. The insurers will be keen for you to get back to working capacity too, so you’ll get plenty of help such as physio or rehabilitation services to get you back up and running again. Or you can choose a lower amount that at least covers your monthly outgoings, so should your income stop, you can still afford to pay your bills. Even if you have good sick pay, this will cease at some point, you can defer the first payment of your Income Protection Cover to start after this, which makes the cover even cheaper. There are short term options too, where the cover pays out for a year or two, this also keeps the premiums down and is a good option if you want cover but want to keep the cost lower initially.
Why use Yellow Brolly?
This type of Income Protection Insurance is not easy to set up. Using an adviser makes sure you have the right type of insurance in place for when you would need it to start. We are your representatives when dealing with the providers. The main reason for the providers not paying claims is the application not being accurate, by using Yellow Brolly we will make sure it is as far as we are able. Don’t leave it at the bottom of your to-do list, fill in the form below or give us a call on0114 4388585.