According to ActiveQuote, enquiries for Income Protection have increased by 76% compared to the same period last year. The company is putting this increase in interest down to people looking to safeguard their finances ahead of the UK exiting the European Union in 2019*.
What does this mean for home owners?
Adam Nanson, Managing Director of Your Mortgage Expert comments:
“Personal protection insurance is one of those things that people take out just in case there is a rainy day in the future. And, it’s interesting to hear that people are thinking about protecting themselves because of the uncertainty around Brexit.
“While none of us have a crystal ball, income protection insurance pays out in the unfortunate event that an individual should be unable to work, whether that be because they fall ill, have an accident or lose their job. So, it’s a prudent option for people to consider so their family’s finances are protected whatever the future holds.”
How can Your Mortgage Expert help?
Adam Nanson continues:
“Whenever we secure a mortgage for a client, we try to have a conversation with them about taking out protection insurance to ensure that bills like the mortgage could be paid if a client’s circumstances were to change. These can be difficult but essential conversations.
“Whether people have taken their mortgage out with us or not, we can help clients understand if they have adequate levels of cover to protect them. We will take the time to talk you through all your options, look at all your income and expenditure, see what you are provided through your current employment and provide you with the necessary advice.
“At Your Mortgage Expert, we offer advice on a range of protection products to help look after you and your family. Some of these products can be complicated so we believe it’s best to speak to someone to find out what’s most suitable for you. Contact Your Mortgage Expert to have an in-depth, no obligation conversation about your life, critical illness and income protection needs.”
If you’re still not sure whether you need protection, why not read about some of our protection customers. Hannah and Steve took out Life Insurance and Income protection to ensure their family was looked after should the worst happen to either of them.
To find out more about the protection products Your Mortgage Expert can advise you on, take a look at our dedicated page. Alternatively, contact us.
We don’t charge for a consultation, so by speaking with us, you won’t be under any obligation. To find out more about our services and how we operate, visit our about us section.
INCOME PROTECTION (WITH NO INVESTMENT LINK) HAS NO CASH IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF YOU STOP PAYING PREMIUMS YOUR COVER MAY END.
The information contained within this article was correct at the time of publication. It is intended for information only and does not constitute advice. TenetLime Ltd cannot be held responsible for information that was correct at the time of publication but subsequently changes or goes out of date due to changes in legislation. For further information, contact Your Mortgage Expert on 01722 322683.
Please note, by clicking on the link below you will be departing from the regulated site of Your Mortgage Expert Ltd. Neither Your Mortgage Expert Ltd nor TenetLime Ltd are responsible for the accuracy of the information contained within the non-regulated site.
Source correct at time of publication: