Personal Protection

What happens if you suffer a serious illness or injury?

This could prevent you from working or reduce your capacity to work, which will affect your income. Your bills will still be payable; mortgage, utilities, food, telephone, and what about provision for retirement (pension contributions), etc... Clearly, if your income reduces then your standard of living will be affected both now and throughout retirement. To reduce the impact of financial destitution you should consider a life assurance policy that pays benefits if you suffer a serious illness (critical illness cover, pays a lump sum) or a policy that pays an income if you cannot work because of incapacity (income protection also know as PHI).

State Benefits

Without some form of personal protection you may be reliant of the state to provide your income. The Department for Work and Pensions has a useful website that outlines the benefits payable if you are unable to work.

Benefits from your Employer

Many people will have some form of sickness benefit from their employer but this may only last for a few months, a serious illness could last for years or the rest of your life. Critical Illness and Income Protection can bridge this shortfall.

The self-employed and small business owners will only have private provision to rely upon. Their needs are particularly acute.

Whatever your situation, talk to us about personal protection to protect yourself against serious illness or injury.