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Is income protection insurance suited to you?
There’s no doubt that in certain circumstances income protection can be a huge benefit, helping to release the financial shackles of those who are unable to work due to an accident or serious illness. However, every individual’s personal circumstances are unique, making it impossible to adopt a cookie cutter approach to this type of cover. Let’s have a look at the important considerations when deciding whether income protection insurance represents good value for you. First things first, what is income protection insurance? Income protection insurance is a long-term insurance policy which provides financial support if you are unable to work due to sickness or injury. This financial support manifests in the following forms:...Five essential home insurance considerations
Home insurance is not the sort of purchase you think about every day, but when you do come to buying or renewing a policy, it is essential you take the time you need to consider every element of the policy. This helps to ensure that, when it does come to making a claim, the protection you need is in place and you are not left short changed. Here is our guide to five essential home insurance considerations: Buildings and contents cover Buildings insurance provides protection against damage to the exterior of your property, as well as any permanent fixtures and built-in appliances. Contents insurance covers your belongings, including furniture, clothes and electrical items. If you’re a homeowner, both buildings and contents insurance s...Income protection insurance for contractors
Income protection insurance for contractors Whilst permanent employees have the benefit of at least three months pay in the event of an accident or long term sickness, as a contractor you are exposed to financial loss the minute you are unable to work. However, there are ways you can protect yourself against the financial hardship this can cause. One method of preserving your current standard of living is to pay a monthly sum towards income protection insurance, which ensures that, if the worst should happen and you are unable to work for a prolonged period of time, you still receive a proportion of your income. When buying income protection insurance as a contractor, here are four important factors to remember: Be realistic The highe...Mortgage protection insurance alternatives
Mortgage protection insurance alternatives Before committing to the purchase of mortgage protection insurance, it is well worth scouring the market to check for other alternatives which may be better suited to your particular circumstances. The first check you should make is to review your existing employment benefits to see whether a sufficient level of long term sickness cover is provided by your employer. If no such benefits are in place you may need insurance cover, but does mortgage protection insurance present the most attractive option? Let's have a look at a few of the alternatives... Employee benefits Before going ahead with mortgage protection insurance you should check your employment contract to see if you are entitled to b...Understanding more about mortgage protection insurance
Understanding more about mortgage protection insurance For the majority of homeowners, the prospect of losing the roof over their heads is quite understandably one of their biggest fears. For those looking for a method of allaying these fears, mortgage protection insurance offers valuable protection by providing homeowners with the means to meet their mortgage repayments when they are unable to work due to an accident, ill-health or a period of unemployment. Do you need cover? If you were unable to work for a prolonged period due to injury, ill-health or a period of unemployment, would you be able to maintain your mortgage repayments? If no, then mortgage protection insurance may be a suitable product for you. Although mortgage protec...