Insurance policies are a way of protecting ourselves against unforeseen circumstances. We are all familiar with home insurance and contents insurance, but we sometimes fail to recognise the importance of income protection insurance.
The costs of not having income protection insurance can represent the ultimate financial burden. We work to build a life for ourselves and guarantee an income so that we live the way we have become accustomed. If we become ill or injured, this hampers our ability to sustain this lifestyle and can leave us seriously exposed to financial turmoil.
In some cases your employer may cover you against illness or injury for a given period of time. Many employers won’t have any type of comprehensive package in place. If you become injured you don’t the added trauma of financial insecurity.
You can insure up to 60% of your gross monthly income with tax free monthly payments to get you by until you can return to work. It will help to ensure that any burdens like rent or mortgages can remain paid, and it will continue paying out until you are ready to return to work or you retire. We all have regularly monthly outgoings which won’t go away in the event of an accident.
A comprehensive policy like those on offer at Endsleigh will even offer rehabilitation and support on getting back to work.
There are also policies for the self employed. If you work for yourself, your income still needs to be protected. Endsleigh offer policies for this section of society.
Why risk more stress if you fall ill or sustain an injury. Many of us have dependents and their security is of prime importance. Income Protection Insurance gives you the peace of mind that your loved ones – children or spouses – can go on living the life to which they have become accustomed.
