Income protection provides a financial safety net in the event you are unable to work due to an accident or illness.

Yet it has been reported that over half of people do not think income protection is important and a further 12% don’t understand its value.

This is despite fewer than a third saying they would be able to rely on their savings if they lost all sources of income, and only 19% of households with children saying they could depend on money they had put aside.

Funding current lifestyle
Reportedly, 4 in 10 (38%) adults said they would be able to find enough money to finance their current lifestyle for up to three months, while 12% said they only had enough for one month. A further 9% had no savings at all.

Meanwhile, more than half of families said they could finance their current lifestyle for up to three months, and 18% said they could manage for up to one month.

Protection pays
Income protection can pay a percentage of your salary if you are forced to take an extended break from work. This pay out can help you cover essential bills and other costs and can be particularly valuable if you have dependants. 

If you’d like advice on finding the right type of cover for your circumstances, please get in touch.
As with all insurance policies, conditions and exclusions will apply

Catch up on our other blog posts:

Your guide to home insurance

Your guide to home insurance

Engaging with your home insurance requirements can be challenging but running the risk of not tuning in and getting the most suitable cover - and the right level of cover - could be financially devastating if an unwelcome event were to occur.  Although home insurance...

read more
Put off by protection jargon?

Put off by protection jargon?

Many people find that the language of protection insurance isn’t particularly user-friendly, with confusing terminology often becoming a barrier to finding the right insurance. We believe that nobody should be prevented from protecting themselves and their loved ones...

read more
How does income protection work?

How does income protection work?

Income protection insurance refers to a group of insurance products that help you out financially, if you lose your income due to injury or illness. The COVID-19 pandemic has greatly increased awareness of the importance of having a safety net to fall back on in times...

read more

(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


Providing helpful and friendly mortgage advice in Southampton

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

02380 224 925

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.