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Income protection

What’s more important?

Most people wouldn’t think twice about insuring their iPod, mobile phone, laptop or television in case they got damaged or were faulty.  But who’ll protect you if you break a leg and can’t work for a long period of time?  Financial hardship is a burden you can do without when recovering from an illness or injury.

  • How would you pay the bills if you suffered from a long-term illness?
  • How would you manage your finances and lifestyle on what the state provides?

Income protection plans are there to provide you with a regular income that could be used to:

  • meet and maintain your monthly mortgage payments, protecting your family home
  • meet and maintain your day-to-day bills and lifestyle costs

Income protection policies protect a person’s income to ensure that if they are off work due to illness or injury, an income would still be available to meet daily household bills and lifestyle costs.

The benefit of an income protection plan is the level of flexibility it provides.  It can be individually tailored to your own personal circumstances to complement an existing employer’s sick pay arrangements to ensure that you get the cover you need and don’t over insure yourself.

Pushing back the barriers

People give a number of explanations for why they don’t have any form of income protection in place, such as:

  • ‘it’s too expensive’
  • ‘it’s too complicated and difficult to find suitable cover’
  • ‘I am never ill’
  • ‘insurance companies never pay out’
  • ‘my employer will look after me’
  • ‘I’ll get state benefits’

This list goes on … but what is really more important, your iPod or you?

While cost is the most common barrier, the premium for cover is often much less than people anticipate and surely some cover is better than none at all?

At David Allen Financial Services we have access to the whole of the market and are able to research and source suitable solutions, protecting what matters the most … you!