Unlike Critical Illness cover, Income Protection could cover almost any medical condition which prevents you from working.
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Income Protection can top up your existing protection from work or put in place sick pay if you are not fortunate enough to have this protection from your employer.
Income protection works to ensure you can continue to meet your financial commitments if you have to take an extended break from work because you’ve had an accident, fallen sick, or lost your job through no fault of your own.
Income protection insurance is designed to pay you an agreed portion of your salary each month to cover debt repayment, essential bills and other costs.
Protecting your future.
Up to one million workers a year find themselves unable to work due to a serious illness or injury. If illness would mean you could not pay the bills, you should consider income protection insurance.
This is especially important if you are self-employed or employed and you don’t have a sick pay policy to fall back on. State benefits available to the majority of people are not likely to meet their financial needs so everyone of working age should consider income protection.
Only approximately 10% of individuals have some form of income protection as compared to 40% who have a life insurance policy and 15% who have private health insurance policy.
Meeting your individual needs.
Ocreas Financial North Limited can provide you with a bespoke, individualised policy designed specifically to meet your financial needs and cover levels.
This means that during a stressful time of illness or unemployment you can be ensured that the right cover and insurance level is in place for yourself and your loved ones.
By carefully matching your financial situation, income, and outgoings with your future requirements Ocreas Financial will match you with the most suitable policy.