How would you pay your bills and mortgage if you got sick or injured and were unable to work once your sick pay stopped? Sure we have family and friends who may be able to help in the short term, could they pay your bills every month and would you prefer not to put the strain on them?
Income protection insurance is designed to help you if you can’t work for those reasons. It will cover your salary so you don’t fall behind with your monthly outgoings. It is usually paid out until you retire or return to work.
If you’re diagnosed with a critical illness such as cancer or fall ill as a result of a heart attack or stroke, critical illness insurance will pay out a tax-free one off payment to cover your financial needs. It will help to pay for your mortgage, rent, bills or debt.