Protect your income! The need for income protection explained
Many of us will insure what we own, from our car and TV to the family dog.
Very few think to insure the cornerstone of their lifestyle – their income. Why bother protecting your income?
Without it all your financial arrangements and plans will likely fail. Insuring your income is a keystone of most financial plans.
You would not want to be in the position of relying on state benefits to keep you going in the event of long term sickness! Some are fortunate enough to have a 6 months full pay/ 6 months half pay sick scheme at work but what happens after the first year?
It’s not just you who would suffer – your whole family’s way of life is at risk.
17000 people hit their sixth week of statutory sick pay and 1 in 5 of us will stay off sick and eventually have to quit work. A third of the UK population have no emergency savings fund for a rainy day. Only 1 in 12 of us have protected our income.
When ill health prevents you from earning an income make sure you have a protection policy in place…
Please get in touch with us to discuss your requirements.
By David Gibson
Google
Income Protection and Insurance, Financial Advice and Financial Planning in Coleraine, Portstewart, Ballymoney, Portrush, Garvagh, Bushmills.
