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Income Protection

Maintain your financial stability if unable to work due to illness or injury
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meet your financial obligations if you're unable to work through illness

Income protection, also known as income protection insurance or IP, is a type of insurance that individuals who have ongoing financial obligations, such as mortgage or rent payments, bills, and family responsibilities, can benefit from.  It helps maintain their financial stability if they are unable to work due to illness or injury.

what is income protection?

Income Protection insurance is designed to replace a portion of the policyholder's income, ensuring that they can continue to meet their financial obligations and maintain their standard of living while they are unable to work. The replaced income is usually a percentage of the policyholder's pre-disability earnings, typically ranging from 50% to 70%.

Income protection insurance is particularly important for individuals who rely on their income to support themselves and their families and can be designed to align with personal circumstances. Eg: paying out until the mortgage term ends, or until the individual’s expected retirement date.

Income Protection does not need a specific diagnosis for an individual to claim, the main requirement for a claim is that the individual is unable to complete their job safely and effectively– for example, a pilot developing an issue with their vision.

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Income Protection
Income Protection

Who could benefit from income protection?

Income protection may be beneficial for the following individuals:

Self-Employed Individuals

Those who do not have the safety net of sick pay or disability benefits provided by employers. Income protection can serve as a crucial financial backup plan for self-employed professionals and freelancers.

Salaried Employees

Salaried employees who have ongoing financial obligations and family responsibilities, can benefit from income protection. It helps maintain their financial stability if they are unable to work due to illness or injury.

Contract Workers

Workers on temporary or fixed-term contracts may not have access to employee benefits like sick pay. Income protection can provide peace of mind and financial security during periods of illness or injury.

Small Business Owners

Business owners who rely on their income to sustain their operations and personal expenses may find income protection insurance indispensable. It helps ensure the continuity of their business and personal financial well-being.

Single Parents

Single parents are often the sole breadwinners in their households. Income protection can provide vital support to help them continue providing for their children in the event of disability or illness.
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Speak to our trusted insurance advisors

Windsor Hill works closely with individuals to advise on all income protection options to help you make informed decisions based on individual needs and circumstances.

Speak to one of our expert team members today to help you with your income protection requirements at 01225 962 456 or email info@windsorhillmortgages.co.uk

With Windsor Hill Mortgages, the path to property insurance is clear and straightforward, transforming what could be overwhelming into a smooth, informed process.

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IMPARTIAL FINANCIAL ADVICE

Whether you are looking for building insurance or life cover for peace of mind for you and your family, our team are here to offer practical guidance. 

 Our experienced financial, insurance and mortgage advisors take real pride in offering impartial advice, so you’ll have the peace of mind that your best interests are at the heart of everything we do. 

 Based in Bath, we enjoy getting to know our clients and listening to their requirements to ensure we provide the right financial solutions every time. 
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