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:
Are you protected from canine chaos?
If you have a dog, you’ll know that they can be cute, loving… and a whole heap of trouble! Aviva1 recently backed this up when it revealed some of the company’s more noteworthy pet-related claims. From the pooch who turned on a tap and flooded his owners’...
Save by living just outside hotspots
By choosing to live just outside highly sought-after locations, analysis has shown that homebuyers could benefit from savings of up to 55%1, without forsaking their preferred location. Average savings come in at around 34% when locating five or ten minutes from a...
The money taboo – it’s good to talk it out
Are you worried about your finances? If so, you’re certainly not alone. According to a recent survey, 90% of households are worried about rising prices1. Financial worries can cause a great deal of stress and anxiety. In fact, nearly one in five people say they have...
Wellbeing benefits of income protection
Income protection insurance can be a cost-effective way of protecting yourself financially if you are unable to work due to illness or injury. What many people don’t realise is that taking out an income protection policy can have benefits beyond the financial....
Plan to avoid home buying stress
Job interview, driving test, family life… the list of life’s stresses is, unfortunately, long and varied. New research has revealed, however, that buying a home comes out on top. Can’t Buy Me Stress 37% of recent UK homebuyers said that buying a house was one...
Seeing protection in a new light
Nobody wants to think something bad happening to them. Perhaps it’s why so many people shy away from protection insurance – after all, it’s all too easy to think ‘it’ll never happen to me’. Unfortunately, ‘it’ can and does happen, whether ‘it’ be injury,...
Back to normal? Property update
Amid the backdrop of war in Ukraine and the spiralling cost of living, unpredictability is at the forefront of many people’s lives right now. The outlook for the housing and mortgage markets is no less uncertain. Taking a step back, however, it is possible to...
Equity Release Solutions in Portsmouth
Mr. & Mrs. F, a retired couple facing a daunting financial challenge. Their interest-only mortgage costs had tripled, straining their monthly budget. Traditional residential mortgages were out of reach due to affordability checks, and the thought of selling their...
Unlock Your Dream Home: How Our Flexible Mortgage Solutions Helped Clients Secure a £1M+ Property in Sandbanks
In our recent success story, we assisted clients in turning their dream of owning a luxurious home in Sandbanks into a reality. With retirement on the horizon, they were eager to embrace a stylish lifestyle without compromising their financial stability. Leveraging...
Quick Relief: How Equity Release Solved Urgent Home Repair Crisis for a 76-Year-Old Client
In a heartwarming success story, we recently assisted a 76-year-old client facing a winter emergency. With her boiler malfunctioning, she found herself without hot water or heating, a challenging situation for anyone, especially during the cold winter months. Seeking...
(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