Income Protection Insurance
In Chelmsford and Essex
There are two main forms of income protection- long term and short term. Short term income protection policies will cover you for a short amount of time if you are unable to work because of illness or injury, or if you become unemployed. These policies will usually only pay out for two years or less.
Longer term policies will cover longer-term health issues and can help to cover your income until you can return to work or until the end of the policy, whichever happens sooner.
There are many different types of policies that cover accident and illness protection. Some of them will pay you the equivalent of your wages while you are off sick. Payment Protection Insurance or PPI will pay off a loan or credit card, and there are also policies which will cover mortgage payments. There will usually be a specific amount of time that you will be able to claim on all of these policies.
Long-term income protection can be used when you are expected to be off work for several years due to serious illness or disability. You can choose the length of the policy, and you will be paid until the cover ends or you can return to work. If you become unemployed as a result of your illness, then this should also be covered as part of your policy.
The decision about what type of income protection will be right for you is not something that should be taken lightly. The right cover can ensure that you and your family are protected if something should happen to you. It is a good idea to get advice from a financial advisor as they will be able to answer any questions you may have about which type of income protection will best suit you and your circumstances.
Are you looking for Income Protection Insurance advice in Essex? We offer mortgage advisor services throughout Essex, London and the surrounding areas including:
- South Benfleet
- Castle Point