Protection when you need it the most
Income Protection is the insurance policy every working adult should consider, because, to be blunt, income protection works when you can’t. No matter how well you feel today, ill health or an accident can happen to anyone at any time and could lead to a significant drop in income resulting in an inability to meet your financial commitments.
Generally speaking, Income Protection covers up to 60% of your gross salary and is paid directly into your bank account and can help you and your family maintain your committed expenditure and go some way to maintaining your desired standard of living as there are no restrictions on what you could spend the money on.
You might benefit in some way from a financial safety net from your employer, possibly for 3 months and if you are very lucky, for 12 months, but after this time, with no other financial protection in place, you would be solely reliant on the State Benefits, and if you have a mortgage and a family, these are likely to be woefully short compared to what is required.
PAD Financial work with you to assess whether you have a shortfall in your income provision should you be unable to work through illness or accident for a considerable period of time, and design an Income Protection Plan to fit your need and your budget.
If you would like to know how PAD Financial can help you, please contact us now.