Income Protection

Income Protection

Income Protection Insurance
Income protection insurance which is also known as Sick Pay Insurance provides a monthly replacement income of up to 70% of your gross annual earnings to cover your essential outgoings should you be unable to work due to accident, sickness and unemployment.
Those who tend to benefit the most from protecting their earnings include the Self Employed and Contractors, those without sick pay or savings as well as individuals in higher risk occupations.

When considering Income Protection Insurance it makes sense to try and find out which is the best policy but this can be hard to pin down as it will depend on your individual circumstances and requirements.

There are a number of factors which will need to be considered when searching for the best Income Protection policy including:
• Your occupation
• Employment status
• Current health and lifestyle choices
• Sick pay entitlement and savings
Each insurer has their own terms, underwriting and preferred type of client type so depending on how risky your job is or whether you smoke will impact on the best provider for you.  Regardless of the insurer, one of the most important things is to make sure your policy covers you in your ‘own occupation’, beware of ‘suited occupation’ or ‘activities of daily living’ cover.  If we consider which policy could be the best based on the plan’s coverage, terms and conditions, exclusions and payout rate we should be able to help narrow down your search considerably and put you in a much better position when deciding on the most appropriate cover.

The Best Way to Set Up Income Protection
When setting up your Income Protection Insurance policy you can opt to go direct to an insurer or take out cover through an intermediary.  It is important to recognise the difference as one provides you with a lot more protection than the other.
• Going Direct to an Insurer
If you go direct to an insurer to set up your policy it is considered a non-advised sale.  As you personally have made the decision to take out this policy there is no financial protection should the policy be inappropriate – the responsibility lies on your shoulders.
• Using an Adviser
Utilising an adviser who provides an advised sale means they are responsible for the policy they help you set up.  They need to understand your circumstances fully including any existing health conditions to make sure you take out the most suitable cover for your needs.  If it turns out their advice was not appropriate the responsibility sits with the adviser.
Here at Willoughby Bespoke Protection we provide a fully advised service so you benefit from expert advice and know you have that additional level of protection should something go wrong.  We are proud of the service we offer and will always have you our client at the core of everything we do.

Why Speak to Us
We started Willoughby Bespoke Protection because we were tired of being treated like a number and not getting the service we all deserve when it comes to things as important as protecting our health and our finances.  Below are just a few reasons why it makes sense to let us help.

• There is no fee for our service.

• We are impartial.
Willoughby Bespoke Protection isn’t tied to any insurance company, so we can provide completely impartial advice to make sure you get the most appropriate policy based solely on your needs.

• You’ll speak to a dedicated expert from start to finish.
You will speak to a named expert with a direct telephone and email. No more automated machines and no more being sent from pillar to post – you’ll have someone to speak to who knows you.

• Gain the protection of advice.
You are protected. Where we provide an advised service we are responsible for the policy we set-up for you. Doing it yourself or going direct to an insurer won’t provide this protection, so you won’t benefit from these securities.

• Claims support when you need it the most.
You have support should you need to make a claim.  The most important thing when it comes to insurance is that claims are paid and quickly.  We are here to support you during the claims process and make sure it’s as smooth and stress free as possible.
 
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