Protect Your Income with Income Protection Insurance
Life is unpredictable. What if illness or injury stops you from working? How would you manage your finances? Income Protection Insurance is designed to help you in exactly these situations. At Orchard Mortgage Solutions, we offer tailored income protection plans that provide peace of mind and financial security when you need it most.
What is Income Protection Insurance?
Income Protection Insurance, also called permanent health insurance, is a policy that pays a regular income if you are unable to work due to sickness or injury. Unlike critical illness cover, which pays a lump sum for specific conditions, income protection supports you by replacing part of your salary over time.
This means you can cover everyday expenses like mortgage payments, bills, groceries, and other essential costs while recovering.
Why You Need Income Protection Insurance
Most people rely on their income to support themselves and their families. However, unforeseen health issues can disrupt your earning ability. Here’s why income protection is crucial:
- It provides a regular monthly income if you are off work for a long period.
- It covers a significant portion of your salary, often up to 50-70%.
- It helps prevent financial hardship during illness or injury.
- It supports you until you return to work or reach retirement age.
- It offers reassurance to you and your family that bills and mortgage payments won’t be missed.
Who Should Consider Income Protection Insurance?
Income protection is vital for anyone who depends on their income to pay bills or maintain their lifestyle. It is especially important if:
- You are self-employed or a freelancer without sick pay.
- Your employer does not offer adequate sick pay or benefits.
- You have a mortgage or other financial commitments.
- You want to protect your family’s financial future.
- You work in a high-risk job or have a history of illness.
Key Features of Our Income Protection Plans
At Orchard Mortgage Solutions, we understand that everyone’s needs are different. That’s why we offer flexible income protection insurance plans with features such as:
- Benefit Amount: Choose how much monthly income you want to receive.
- Deferred Period: Select how long you wait before payments start (e.g., 4 weeks, 8 weeks).
- Benefit Term: Decide how long payments will continue (until return to work, retirement, or a fixed term).
- Guaranteed Renewable: Your policy can continue as long as you pay premiums.
- Inflation Protection: Ensure your payments keep pace with the rising cost of living.
- Partial Disability Cover: Receive benefits even if you can only work part-time.
How Much Does Income Protection Insurance Cost?
The cost depends on several factors, including your age, occupation, health, and the level of cover you choose. Generally, younger and healthier individuals pay lower premiums. At Orchard Mortgage Solutions, we provide personalised quotes to find the best value plan for your budget.
How to Apply for Income Protection Insurance
Applying is easy and straightforward with Orchard Mortgage Solutions. We will:
- Assess your personal situation and financial needs.
- Explain the types of income protection policies available.
- Help you choose the right deferred period, benefit amount, and term.
- Guide you through the application process.
- Provide ongoing support throughout your policy term.
Income Protection Insurance FAQs
Q: Does income protection cover mental health conditions?
A: Yes, many policies include cover for mental health issues such as depression and anxiety, but specific terms vary by provider.
Q: Will my premiums increase over time?
A: Some plans have fixed premiums, while others may increase with age. We will help you choose the right option.
Q: Can I claim if I’m self-employed?
A: Yes, income protection is ideal for self-employed people who lack sick pay.
Why Choose Orchard Mortgage Solutions?
At Orchard Mortgage Solutions, we specialise in personal protection insurance, including income protection. Our expert advisers work with leading insurance providers to find you the best cover at competitive prices. We take the time to understand your unique circumstances and offer clear, jargon-free advice.
Protect Your Income Today
Don’t leave your financial security to chance. Income Protection Insurance can safeguard your lifestyle and provide peace of mind. Contact Orchard Mortgage Solutions now for a free, no-obligation consultation. Let us help you secure your future.
📞 Call us today 01257 543013 to speak with one of our expert advisers
📧 Or use our contact form to arrange a no-obligation consultation
