Income Protection

 

What is it?

An Income Protection plan is designed to pay out a regular income in the event you are unable to work due to an accident or illness. These types of plans continue to pay out an income as long as you are unable to return to work up until the end date of the policy (typically your normal retirement age). 

This type of plan is quite often seen as the foundation of any financial planning as it is likely that other plans will have to be given up if you do not have sufficient income coming into the household.

Who is it for?

This type of plan is designed for anyone whom is working (employed or self employed). It’s worth pointing out that even if your employer provides sick pay, it is unlikely to last for longer than twelve months and so ongoing protection is essential. Plans can be adapted to fit in with any existing protection you might have. As Independent Financial Advisors we can help you find the plan that best meets your requirements.

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For mortgages regulated by the Financial Services Authority a fee of up to 1% of the loan arranged on your behalf will be charged upon completion. Please think carefully before securing other debts against your home.

When consolidating debts the new mortgage may have a longer repayment term and therefore increase the total amount payable.

Your home may be repossessed if you do not keep up repayments on your mortgage