Income Protection Insurance offers valuable coverage, providing financial support if you become ill or disabled and are unable to work. The policy ensures you receive regular income payments until you can return to work or reach retirement age.
With comprehensive coverage, Income Protection Insurance encompasses various illnesses and disabilities, aiming for your eventual return to work. However, in the event that you cannot return to work, the policy will remain in effect until your retirement age. It’s essential to note that Income Protection Insurance can make multiple pay-outs, but there is a cap based on your salary.
Since individual circumstances vary, every policy will have its unique features. As dedicated protection and mortgage broker in Sheffield, we take pride in recommending the ideal policy for you, considering your specific needs and ensuring your Income Protection Insurance meets all necessary specifications.
Having insurance in place for unforeseen circumstances is crucial, even if you’ve never needed to claim it before. Life is unpredictable, and having the security of Income Protection Insurance can offer peace of mind. If you’re uncertain about whether it would be beneficial for your specific situation, don’t hesitate to contact us for a free insurance review in Sheffield.
It’s worth noting that you might already have Income Protection Insurance through your employer’s benefits program. Checking your employment contract can provide clarity on any existing insurance policies your company offers.
Before making a decision, we recommend consulting with a qualified protection and mortgage advisors in Sheffield. As experienced professionals, we will evaluate your personal and financial situation, helping you find the most appropriate insurance product tailored to your specific needs.
At Sheffieldmoneyman, we provide every client with a free insurance review, tailored to their unique circumstances. We meticulously assess your personal and financial situation to determine if Income Protection is the optimal choice for you. Various factors, including your lifestyle, age, and medical history, influence the monthly premiums associated with your policy.
It’s important to note that Income Protection insurance can be a significant expense, especially with a short deferred period. If you already have other insurance policies, it’s advisable to calculate the overall costs and coverage.
We offer all new and existing customers a free Insurance review to speak with one of our dedicated protection and mortgage advisors at in Sheffield. During this review, we will take the time to understand your personal and financial circumstances, considering factors such as your lifestyle, age, and medical history.
Thiswill help determine whether Income Protection Insurance is the most suitable option for you, and we will tailor the policy to meet your specific needs. It’s essential to be aware that Income Protection Insurance may involve higher costs due to its potential to pay out multiple times.
Before finalising your policy, it’s crucial to be fully informed about what the Income Protection Insurance covers and the conditions associated with it. Our protection advisor in Sheffield will guide you through the details, ensuring you have a clear understanding of the policy’s benefits and limitations.
You might already have Income Protection Insurance through your employer’s benefits program, eliminating the need for a separate policy. Verify your employment contract for details about the coverage offered by your company.
While you have other insurance, such as Critical Illness Cover addressing specific illnesses that hinder work, it’s vital to review your current coverage for potential gaps in the future. As experienced mortgage broker in Sheffield, we often see individuals preferring to rely on their savings rather than investing in Income Protection Insurance.
In such cases, it’s crucial to assess whether your savings can adequately cover your living expenses during the required period and consider the possibility of needing additional time off for emergencies, ensuring you have the financial safety net you need.
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Really helpful - took so much stress out of first time buying for us!
4 days ago
Excellent service. Thank you so much.
1 week ago
Sheffield Money man has been fantastic throughout keeping us in the loop throughout and addressing any concerns or questions we had straight away. Dinah has been fantastic and you can tell she really cares about her clients answering questions we...
4 weeks ago
I am really happy 😃 with your services
1 month ago
Amazing service, guidance and patience throughout the whole process. Thank you, Tom!
1 month ago
We had a very smooth process with the kind help from Charlie and Meghan, many thanks team!
1 month ago
So so helpful, they gave great advice and handled the whole process really well. Meg was amazing! I'd also recommend their solicitors they were outstanding
2 months ago
Very good spoke with Jonathan mortgage advisor told me about all my options explaining everything in detail I didn’t understand. I would use them again.
3 months ago
very good professional service
4 months ago
Jason and Stacey were great, informative, helped us save money and best of all super quick and responsive. Would recommend to anyone looking to buy their first or next house!!
5 months ago
I have used Sheffield Moneyman three times, 2 new house purchases and one remortgage. Every time they have been very helpful, great at explaining the ins and outs of each option and are really good at keeping me up to date as the mortgage...
6 months ago
Went out of their way to get me the mortgage I needed ,both mar and Paula were fantastic
6 months ago
Chris was a fantastic no-nonsense guy. We contacted him a year ago however we changed our minds then, he promised to contact us another year and we were surprised he did. He put us at ease and took him time to go through everything we needed. We...
6 months ago
Really pleased and happy with the service I've received from moneyman mortgage experts and especially massive thanks to Matt Collinson to be so patient and helpfull throughout the whole mortgage application process. Much appreciated guys!
8 months ago
Great service. Patiently explained the process and always quick to help and advise. Really recommend Wayne!
9 months ago
Really good to deal with highly recommended very professional and very friendly and helpful Tom Bowes was really good with us and helped us alot.
10 months ago
We’re very impressed with our experience with UK MoneyMan! Me and my partner are first time buyers, from the first phone call with Dinah, to the case manager Stacey, everything has been so smooth, every question I had was answered quickly and had...
10 months ago
I went to Malcolm for advice as my mortgage was up for renewal and I wanted to discuss other options. Both Malcolm and Lyndsey have been extremely helpful and informative throughout. I will definitely be using them again in the future.
11 months ago
Massive thank you to Charlie and the rest of the team at UK Moneyman for helping us get our first mortgage. They went through everything in detail and explained things further when we needed them to. Couldn’t have done it without them
11 months ago
Very very good service. 5 Stars. Everybody was super helpful, from start to finish. Made a stressful situation so much easier!
11 months ago
Explore your insurance options with a dedicated mortgage advisor in Sheffield today. Your protection advisor in Sheffield will discuss your health history with you, gathering essential information to make well-informed decisions.
With access to a vast array of insurance products, our team will search extensively to find the most suitable coverage to protect you and your family.
Once we identify the most suitable insurance product for you, we will submit your application to the provider. On occasion, the policy provider may request additional information from us before considering your application.
For clients who have obtained their mortgage through us, we will proactively reach out to you during the remortgage process. This presents an ideal opportunity to review any existing policies you have in place.
Your protection advisor will be open and transparent with you at all times. From start to finish they will work for you, trying to find you the best deal possible based on your personal and financial situation.
We have over 20 years of experience in the sector with all different kinds of policy types. We have helped many customers take out Income Protection Insurance products in the past and we could help you next!
Our Mortgage and Protection Advisors in Sheffield want to make sure that you are protected and have the correct policy in place that will give you financial help when you need it most.
Take a look at our reviews! We have collected a large handful of reviews from past customers sharing their experiences with us. Head over to our reviews page to read more.
This type of Income Protection Insurance serves as a safety net for unexpected life events that can disrupt your income. Accidents, illnesses, and redundancy are all factors that can impact your financial stability.
With this coverage, you’ll receive tax-free monthly lump sums in the event of illness, accidents, or redundancy, compensating for your lost income. Typically, these payments will last for around 12 or 24 months, during which you are expected to recover and return to work.
Once the policy pays out, you have the flexibility to use the money for any purpose you desire. Whether it’s covering living expenses, medical bills, or other financial obligations, you have the freedom to allocate the funds as needed.
This form of income protection is designed to cover your essential monthly debt repayments, including loans, mortgages, and credit cards, in the event that you become unable to work.
When you secure this policy, you will need to specify the duration for which you want the coverage to pay out. Typically, these policies are short-term, providing financial support for a limited period to help you manage your debts during times of inability to work.
If you find yourself unable to work and struggle to keep up with your mortgage payments, Mortgage Payment Protection Insurance (MPPI) comes to the rescue. Instead of replacing your entire monthly wage, it is specifically designed to cover your mortgage payments. In some cases, it may offer a bit extra to help with bills and minor expenses.
MPPI policies usually have a limited pay-out period, typically up to 12 months or until you can return to work. Once you resume working, the payments will cease. For a comprehensive insurance review, feel free to reach out to a Protection Advisor in Sheffield at no cost.