Income Protection

Safeguard Your Income, Ensure Peace of Mind

We insure our cars and homes, but often neglect to protect our income. If illness or injury interrupts your earnings, the impact can be severe, from missed mortgage payments to long-term financial stress. Income Protection Insurance ensures your family’s lifestyle is safeguarded, covering up to 70% of your salary if you can’t work. This allows you to recover without financial worries, providing peace of mind and stability. Consider Income Protection to secure your financial future.

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How Can We Help?

Income protection is an insurance policy designed to replace a portion of your income if you are unable to work due to illness or injury. It pays out a regular benefit, typically a percentage of your salary, until you can return to work or reach retirement age, depending on the policy terms. This ensures you can continue to meet your financial obligations even when you are not earning.

Why is Income Protection Needed?

Financial Stability: It provides a steady income stream, helping you cover essential expenses like mortgage or rent, bills, and daily living costs.
Long-Term Security: Unlike short-term sick pay, income protection can provide coverage for an extended period, ensuring long-term financial support.
Peace of Mind: It reduces the stress and anxiety associated with financial uncertainty during periods of illness or injury.
Flexibility: Benefits can be used for any purpose, giving you the freedom to manage your finances as needed.

Why an Adviser is Best

Customised Solutions: Advisers evaluate your specific needs and work situation to recommend a policy that offers the right level of coverage.
Comprehensive Understanding: They explain the differences between various policies, such as the benefit period, waiting period, and coverage limits.
Claim Support: An adviser assists with the claims process, ensuring you receive your benefits promptly and without unnecessary hassle.
Regular Reviews: They regularly review your policy to ensure it remains aligned with your changing circumstances and income levels.

At Confido Financial, our expert advisers are dedicated to helping you find the right income protection policy, providing financial peace of mind when you need it most.

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FAQs

Income protection insurance is a type of policy designed to provide you with a regular income if you are unable to work due to illness or injury. It offers financial security by replacing a portion of your lost income, helping you cover essential expenses and maintain your standard of living during periods of incapacity.

Income protection insurance pays out a percentage of your pre-tax income as a regular benefit if you are unable to work due to illness or injury, typically after a waiting period known as the deferred period. The benefit continues until you are able to return to work, retire, or the policy term ends.

Income protection insurance covers a wide range of illnesses, injuries, and disabilities that prevent you from working, including physical injuries, mental health conditions, and chronic illnesses. The specific conditions covered vary depending on the policy terms and exclusions.

The amount of income protection coverage you need depends on factors such as your monthly expenses, existing savings, other sources of income, and any benefits provided by your employer or government. A financial adviser can help you determine the appropriate coverage amount based on your individual circumstances.

Yes, self-employed individuals can purchase income protection insurance to protect their income in case of illness or injury. Income protection policies for self-employed individuals are tailored to accommodate variable income streams and can provide valuable financial security.