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Income Protection Cover

When experiencing illness or injury, a percentage of your income can be protected with Income Protection Cover. When your income is important, it's certainly worth protecting.

Income Protection Cover pays you a percentage of your regular income if you are unable to work due to ill health or accidental injury. During this difficult time, it is important to have a financial security net to potentially catch you from debt and even possibly save you from bankruptcy.

When you are ill and cannot work due to illness or injury, regular payments such as mortgages and daily living expenses, do not go away. Unless you have sufficient savings and government or employee sick pay to cover all your expenses, you may need Income Protection Cover.

The amount of time that must pass between your first day off work and the point at which you can start to receive benefit payments is called the deferred period. The longer the deferred period you choose, the lower your premiums will be. So, if your employer provides sick pay for a period of time, you may be able to delay when you want your benefit to start by selecting a longer deferred period, and thereby decreasing the premium of the policy.

You're most likely to need Income Protection Cover if you're self-employed or employed and you don't have sick pay and savings to fall back on for a long-extended period.

When you are ill your main concern should be getting well and not how to pay the next bill that arrives. Such stress and concern may even impede the healing process. For peace of mind, contact us at Windom Finance to help you navigate through the many options and products available in the market to find what is most suitable to your individual demands and needs.

Income protection pays out if you can't work and suffer a loss of earnings due to ill health or accidental injury and can offer real peace of mind at a time when you may be otherwise preoccupied by health concerns.

Income protection plans that have not investment link have no cash value at any time and will cease at the end of the term. If you stop paying your premiums your cover may end.