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:

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(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.

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Or call —02380224925

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Providing helpful and friendly mortgage advice in Southampton

First Floor, 9 Salisbury Road, Totton, Southampton, SO4O 2HW

02380 224 925

info@southcoastmortgages.com

South Coast Mortgage Services Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority. Registered Office: 59 The Avenue, Southampton, Hampshire, SO17 1XS. Registered Company Number: 08414746 Registered in England & Wales.