A policy that provides a regular income if you are unable to work because of sickness or disability.
Many people make the mistake of thinking that should they fall ill, have an accident or lose the ability to work, the State will step in. Wrong - the rules governing sickness benefit claims have changed dramatically.
Income Protection should be considered if you would not be able to maintain your standard of living on State Benefits alone.
If your regular outgoings are normally met from income, then taking away that income can have drastic and wide ranging implications including inability to meet mortgage and loan payments, as well as basic household bills and living costs.
Plans are available for employees, self-employed people and even those who do not work but are responsible for managing a home.
It is important to ensure you take out the policy that best suits your circumstances, not necessarily the one that provides the cheapest premium.
