ADVICE for

Income Protection

Whatever you do for a living, your continued income isn’t guaranteed if a long-term illness or accident stops you from being able to carry out your role. This is where an income protection policy comes into play, as it sets you up for regular payments if you’re signed off from work, ensuring that you can still pay your monthly mortgage payments and protect your family from financial hardship.

The best course of action is to hope for the best but plan for the worst, making income protection an affordable way of achieving complete peace of mind. If you’re looking for professional advice from a specialist based in Hull and East Yorkshire, get in touch with Mortgage Advice Firm today.
Please note, for these insurance products term and conditions apply. This information is a summary only. You will receive full policy documents upon application. This policy will set out the terms, conditions and limitations of cover provided under the plan.

Your guide to income protection

We’re sure you have a few questions about income protection, as you need to be certain that you understand how it works and whether it’s right for you. Below are the answers to some of the most common queries we receive, plus we’re always here when you want to get in touch for personalised guidance.

common QUESTIONS
What is income protection and how does it work?
What can income protection offer me?
Do I have to take out income protection?
What does income protection cover?

What is income protection and how does it work?

Income protection is a policy designed to pay you a regular income if you can’t work because of sickness, disability or injury. The policy will ensure that you have the funds required to pay your mortgage, bills and other outgoings until you’re able to return to work or retire. For more information about income protection and choosing the right product, get in touch with our qualified advisors today.

What can income protection offer me?

Income protection brings total reassurance right away, as you know you’re covered financially in the event of not being able to work. The regular income provided by the policy allows you to continue living as close to normal as possible during your recovery period. Depending on the nature of your illness or injury and your specific needs, income protection can also include remote GP appointments, physiotherapy consultations, mental health support, nutritional advice and lifestyle coaching. These are designed to support and speed up your recovery, as well as helping you to remain fit,healthy and happy.

For more information about income protection and choosing the right product, get in touch with Mortgage Advice Firm today.

Do I have to take out income protection?

No, there are no requirements stating that you must take out an income replacement policy. However, loss of income is a very serious event that could quickly lead to you no longer being able to meet your financial commitments. The inability to pay your  mortgage, gas and electricity, insurance, loans, council tax and other bills is a serious problem. Aside from your credit score being negatively affected, your household utilities could be cut off and failure to pay your mortgage can lead to the repossession of your home.
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That’s why income protection is strongly recommended, as it’s an insurance policy that pays for itself if the worst-case scenario presents itself.

For more information about income protection and choosing the right product, get in touch with our expert advisors today.

What does income protection cover?

Income protection offers cover for a wide range of conditions. These include mental health problems that prevent you from working, such as anxiety, depression, stress and grief. There’s also physiotherapy support available for conditions affecting various areas of the body, such as knees and legs, neck and shoulders, muscles and joints, and severe back pain that prevents you from carrying out your role. Income protection is extremely versatile, as it covers the types of everyday illnesses and injuries listed above as well as critical illnesses such as heart attack, stroke and cancer. This means that if you can’t work for any medical or health-related reason, your income protection policy will enable you to pay the bills and remain in your home.

For more information about income protection and choosing the right product, get in touch with our expert advisors today.

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The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK.
Mortgage Advice Firm Ltd is an Appointed Representative of PRIMIS Mortgage Network, a trading name of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority. Registered Office: 2 Exeter Street, Cottingham, East Riding of Yorkshire, HU16 4LU. Registered in England& Wales. Company Registration Number 13333222.
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