Mortgage Income Protection Cover Belfast, Northern Ireland
What is income protection insurance?
Income protection insurance (sometimes known as permanent health insurance) is a long-term insurance policy designed to help you if you can’t work because you’re ill or injured.
It ensures you continue to receive a regular income until you retire or are able to return to work.
- It replaces part of your income – if you can’t work because you become ill or disabled.
- It pays out until you can start working again – or until you retire, die or the end of the policy term – whichever is sooner.
- There’s often a waiting period before the payments start – you generally set payments to start after your sick pay ends, or after any other insurance stops covering you. The longer you wait, the lower the monthly premiums.
- It covers most illnesses that leave you unable to work – either in the short or long term (depending on the type of policy and its definition of incapacity).
- You can claim as many times as you need to – while the policy lasts.
It doesn’t matter whether or not you have children or other dependants – if illness would mean you couldn’t pay the bills, you should consider income protection insurance.
You’re most likely to need it if you’re self-employed or employed and you don’t have sick pay to fall back on.