The growing unease about the economic fallout of COVID-19 has led to many people reviewing their finances and considering their options if they were suddenly unable to work.
If the pandemic has taught us anything, it’s that life can change in a blink of an eye and being out of work, whether due to redundancy or illness, can rapidly make us feel powerless.
However, having the right cover in place can help us feel in control again. And with the Bank of England warning that there could be 2.5 million people out of work by the end of 2020 as the furlough scheme ends, taking out income protection could be well worth it.
The importance of protection
Income protection can provide important cover if you are unable to work for a while. Yet although increasing numbers are likely to take out this type of cover due to the pandemic, there are warnings that insurers must not be opportunistic and must instead find the right tone and approach, as well as offer reassurance.
Policies are likely to evolve in a post-coronavirus world, with some insurers already adding COVID-19 exclusions.
We can help you get the right cover
If you’re not sure which policy is best for you and your circumstances, let us help you find the right cover.
As with all insurance policies, conditions and exclusions will apply
Catch up on our other blog posts:
Millions Hiding Ill Health From Loved Ones
Seven million people are keeping quiet about mental health issues, while nearly four million are hiding a physical health problem from their families, according to a study1. Keeping loved ones in the dark about health issues can create problems both now and in the...
Stamp Duty – Just a Reminder!
The temporary raising of the nil-rate Stamp Duty band threshold to £500,000 ended on 30 June. The measure was introduced in July 2020 to maintain confidence in the housing market during the pandemic. Don’t despair if you missed the deadline, as there's now a tapered...
A Record Summer for house prices?
House prices continue to rocket, with the Nationwide House Price Index1 revealing annual house price growth of 13.4% in June, the highest level since November 2004. The extended Stamp Duty holiday, in addition to the new mortgage guarantee scheme and changing...
(Your home may be repossessed if you do not keep up repayments on your mortgage)
We charge a fee for arranging and advising you on the mortgage. The fee will be dependent on your circumstances but will not exceed £499. (Our typical fee is £299.)
For Lifetime Mortgages/Equity Release the fee will be £799.
Our mission is to provide honest mortgage advice, whilst helping you save money.
Get in contact
Flexible appointments
Or call —02380224925