10/06/2025
Income Protection:
Who would pay the bills if you can't work?
The cost of living crisis is a big worry for many UK families. With rising mortgage payments, increased energy bills, the soaring price of food shopping and the cost of petrol, every pay packet is being stretched to its limit.
Now imagine tackling the bills without an income.
What if you were unable to work because of an accident or sickness? Could you cope if you suddenly lost your income? The household bills would still continue to arrive every month. You’d still have to look after your family, buy groceries, fill up the car and keep a roof over your head. Being off work because of an injury or illness could happen to anyone, at any time. It’s just one of the reasons millions of people consider taking out Income Protection insurance, for the security it can provide to cover everyday outgoings.
Another consideration is that if you are unable to work because of an accident or sickness, the stress of not being able to pay the bills can make recovery a much more difficult process. The right Income Protection policy could give a reassuring level of financial cover and prevent a lot of sleepless nights, should illness or an accident leave you unable to work.
When take home pay stops, the bills keep on coming. It’s not unusual for people to unexpectedly stop working because of a change in circumstances. It could be through illness or because of an injury, but the impact would be the same: the loss of a regular income. Facing financial insecurity would be a huge concern. Some may be lucky enough to have savings to fall back on; others may have to turn to family and friends for a loan, but with the current cost of living pressures, they may be just as hard-pressed, and unable to help. Putting bills on a credit card would only be a temporary way to fend off a growing financial problem.
Income protection would replace your earnings, allowing you to maintain your living costs, including your mortgage, bills, debts and general living costs. This type of insurance also works with any employer sick pay benefits, so when your sick pay ends, your income protection plan takes over.
If you would like to find out more, please contact me on 07772144652. I do not charge any fees for providing advice, or arranging insurance for you.
I also provide advice on life insurance & critical illness cover.
