There are a number of financial products on the market that allow you to protect your financial stability by insuring against interruption to your income. Many of these are associated with borrowings (eg your mortgage) to ensure that the family home is not repossessed. These policies come at a cost, and can incorporate cover for different periods of time and different circumstances.
Other policies exist to insure the policyholder against loss of income in the event of long term illness or disability. Typically such schemes would be funded via a monthly premium, and the benefits could include associated expenses such as pension payments and National Insurance contributions. This insurance can provide a valuable benefit offered by some employers as part of a salary and benefits package.
Contact us to discuss the impact that loss of income could have on your own specific circumstances and to assess if income protection would be suitable for you.