The policy that pays you while you’re sick and helps you return to work
Income protection should be on everyone's radar in the 21st century, and we’ll tell you why.
It can provide you with a regular income if you have to take time off work sick, help you return to work, and equip you with other benefits to support your general well-being.*
Income protection could make all the difference
Being off work sick is already bad enough as it is. But imagine if you couldn’t pay for the essentials and keep up with the bills as well?
Income protection is a stopgap to help you get through a period of illness more quickly.
How does income protection work?
This policy acts like your monthly pay check if you must take time off work due to illness or injury. Your policy can cover up to 60% of your monthly income.
Top excuses people make for skipping this policy
There's a slew of excuses people offer for not investing in income protection insurance. Let’s tackle these excuses head-on to reveal the reality behind them.
Excuse 1: "My savings will cover me"
Reality: Savings are great, but they're only a short-term solution. Income protection insurance offers ongoing financial support, letting your savings stay untouched.
Excuse 2: "I'll just rely on SSP"
Reality: Statutory Sick Pay (SSP) is a mere £109.40 a week, which wouldn’t get most people far. It's unlikely to cover all your living expenses. Income protection offers a safety net that will continue to pay-out until you’re ready to return to work.
Excuse 3: "It won’t cover mental health conditions"
Reality: Although your income protection policy will most likely not cover any pre-existing illnesses, many income protection policies cover mental health conditions. So, if you were diagnosed with a condition in the future, your policy could pay-out until you're well enough to return to work.
Excuse 4: "It's just like health insurance"
Reality: Income protection and health insurance are very different policies. The former ensures you can pay the bills if you can't work due to illness or injury, whereas the latter facilitates faster medical treatment.
Income protection insurance isn't a luxury but a practical financial security tool. Don't let excuses prevent you from making the right financial decision.
Why get income protection insurance?
Income protection insurance is like a financial safety net if you get sick or hurt and can't work. With this policy, you get:
- Cash in the bank - Helps pay the bills and everyday spending
- Less stress - You can chill and focus on healing
- Steady money flow - Sort of like getting your monthly pay check, even when you’re ill
Supporting your return to work
If income protection wasn’t already working hard enough, many providers offer support for your return to work.
Returning to work after a long period off can be challenging at the best of times. But with support from your policy, it doesn’t have to be a feat. For example, Liverpool Victoria provides services to help you recover before your payments start rolling in. Here's a sneak peek of what's on offer:
- Physiotherapy to get you moving
- Mental health support because the mind matters
- And other excellent tools to help ease you back into work
The best part? These extras won't dent your wallet or reduce your policy payout.
Still on the fence about income protection insurance?
Get in touch!At Caspian, our income protection insurance experts can answer your questions and put your mind at ease.
We can help you take out an income protection policy, giving you insight into which providers are best suited to your lifestyle and finding a policy that aligns best with your circumstances and affordability.
*Free benefits are not contractual and may be removed at any time
