How income protection can brighten your winter
Get valuable peace of mind
Two thirds of Britons8 say their fi nancial situation makes them feel stressed, anxious or depressed. Income protection can help by providing crucial support and peace of mind. Knowing that you and your loved ones will not suff er hardship if you face a major loss of income helps millions of people sleep more soundly at night.
Support when it’s needed
The same study also found that a third of people feel they don’t have anyone to turn to for advice when concerned about money. As well as fi nancial support, protection providers can include emotional support networks as part of their policies.
Look after yourself
A recent survey9 showed that twice as many people insure their pets as themselves. This desire to protect those around us is admirable. But looking after number one also helps ensure the security of your dependants – including furry friends.
Could you survive on state benefits?
If you are unable to work and are eligible for statutory sick pay, you could receive £99.35 a week from your employer. Given that the average household spends £587.90 each week10, it is very likely this won’t be enough to keep on top of your outgoings. Moreover, statutory sick pay only lasts for the fi rst 28 weeks of illness. Income protection is the best way to cover your expenses for as long as you need it.
8 Income Protection Task Force, 2022, 9 Cirencester Friendly, 2022, 10ONS, 2022