Income Protection Insurance in Liverpool offers essential financial support if you’re unable to work due to illness or injury. It provides a monthly income to help cover your living costs while you’re off work.

The amount of cover and waiting period before payments start can be tailored to fit your personal situation. Speaking with a professional can help determine the right level of coverage for you.

Why Income Protection Is More Costly Than Life Insurance

While Life Insurance focuses on providing a lump sum upon death, Income Protection in Liverpool is designed to cover the more common risk of being unable to work due to illness or injury. This is why it tends to be more expensive.

Unlike Life Insurance in Liverpool, which may only pay once, Income Protection in Liverpool continues to provide monthly payments until you’re well enough to return to work or the policy ends. If you opt for a “budget” version, it may only pay out for up to 24 months.

The Flexibility of Income Protection

One of the standout benefits of Income Protection Insurance is its versatility.

It covers a wide range of conditions, paying out for any reason that leaves you unable to work—be it a minor injury or a long-term illness.

In contrast, Critical Illness Cover in Liverpool only covers specified conditions. This makes Income Protection particularly appealing for self employed individuals and those without robust sick pay from their employer.

Why Self-Employed Workers Should Consider Income Protection

Self employed professionals often lack access to sick pay, making Income Protection an invaluable safeguard.

If you’re unable to work due to illness or injury, this policy ensures you can continue meeting your financial commitments without relying on savings or loans.

It’s equally beneficial for those in employment, especially where employer-provided sick pay is limited.

Personalised Income Protection Review in Liverpool

We believe everyone deserves the peace of mind that comes with financial protection. That’s why we offer a free, no-obligation protection review for all our customers.

During this review, we’ll assess any existing policies you have, ensuring they still meet your needs. If required, we’ll recommend tailored products that fit within your budget, covering critical areas like Income Protection and Critical Illness Cover.

Date Last Edited: September 20, 2024