income protection uk : Why Is It Important ?

2008-04-07 12:49:47

( Financial )



Why do you need income protection? Why should you get an income protection policy?

Income protection uk is vital particularly because you never think it will happen to you – especially if you are young and optimistic.

However, it doesn’t matter how young or old you are it’s vital to protect your future with income protection uk.

Ask yourself – what would happen if you fell ill or were the victim of an accidental injury and could no longer work? This is where income protection uk can help.

What do statistics say? You are 26 times more likely not to be able to work for over 6 months than you are to die before 65.
- depression and chronic anxiety – 1 in 6 people are sufferers
- back pain – 4 out of 5 people will suffer from this.

The solution? Look for income protection uk. Ask a team of experienced claims assessors to contact you about your individual case.

What does income protection uk do? It gives you a tax free replacement income every month if you are unable to work.

It can help in many ways
- it can give you a certain percentage of your lost earnings (up to 60% usually) – this protects your living expenses
- you can maintain a decent standard of living
- it can cover those included in household duties full-time.

What about a critical illness policy?
Usually this type of policy only pays out under defined conditions. They leave out quite a few key areas (for eg mental illness and muscoskeletal conditions)

Will the state take care of you?
Yes – but almost certainly not to the standard of living you currently enjoy.

Is there anyone who can’t be covered?
Students, unemployed, police, armed forces.

But why do you need income protection
The likelihood of you not being able to work because of accidental injury or illness is greater than you think. As much as 7% of the working population in the uk have claimed a state incapacity benefit for over 6 months.


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