Income protection insurance is a viable form of protection insurance in this day and age. The cost of living in the UK actively rises every year and yet wages and salary packages do not seem to follow suit. As a result, it is easy to fall into poverty should anything happen to a vital member of a household and they became unable to work because of unforeseen redundancy, long term sickness or accident. The cost of living allows no room for manoeuvre, so you can either afford to eat and pay your rent or mortgage, or you cannot. There is no in between.
Income protection insurance can provide welcome relief in the face of possible hardship. By providing an individual with a tax-free fixed amount every month for twelve to twenty-four months,, income protection insurance can help to provide for the household and give them a degree of expendable income that would otherwise not have been possible without an income.
There are many high street and specialist providers that offer income protection insurance. As the general rule dictates, it is not linked to any other policy and so income protection insurance can be sold as a standalone product. However, that is not to say...
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