Why is Income Protection a MUST!
Firstly, a quick-fire round of questions for you:
How do you pay your bills?
How do you pay your bills if your income source stops?
We do not believe in fear mongering here at MTGE, but we do believe in putting our clients in a position of power!
Here’s why we think Income Protection is the most important insurance when it comes to protecting or putting what some people refer to as a ringed fence of protection around your assets.
A simple thing happens when anyone’s income stream stops, you either dip into your savings if you have any, speak to friends and relatives or look to see if you can get a loan.
BUT…
What happens if none of the above resources are available, and you are still liable to pay your
mortgage?
Even worse still what if you get sick or have an accident that prevents you from being able to perform your job?
Are you aware that statutory sick pay will only cover you for £96.35 pounds per week
for up to 28 weeks…?
Could you pay your mortgage and bills with £96.35?
Honestly paying for your mortgage and bills is the last thing we want you to be worrying about if you
cannot medically work due to an accident or illness, that is why we insist on checking employer
contracts when we do our Mortgage Protection calls because we want you to know exactly what you
will get paid, under what circumstances and for how long.
What happens if you are Self Employed, and you do not have Income Protection?
Well, if your income is a key component to affording to live where you live, pay bills, and put food on
the table why would you not protect your income?
Policies can be taken out over short or long periods and affordability discussed with our expert
advisors. You can go to an online comparison site. But what we offer you is an advised sale, so you
understand exactly what you are getting and for how long with no charge for helping you find the
best possible solution for you.
What does income protection protect?
You, any dependants, your home, any liabilities.
How?
If you are medically diagnosed with an illness or have an accident that inhibits you from doing your
job, income protection is designed to pay a percentage of your salary. Policies differ depending on
who you go with, but some policies can cover you up to 70% of you monthly income. Our job is to
find the right fit for you.
To arrange a free consultation with one of our Mortgage Protection Team click here.
MTGE – We Care
Article written: 3/3/22 ** Please note that we cannot guarantee that some facts will not change
we recommend that you always see professional advice before making any decisions.