Income protection

Would losing your income cause
your family financial strain? What
would happen if an illness or injury
stops you from working?

You never truly know what’s around the corner. Life can throw curveballs at us. To protect you
and your family, it’s important to have income protection measures in place.

Anyone can get ill at any time. Injuries and accidents can hit us out of nowhere.

Although we can’t stop these things occurring, we can plan for damage control. The Mortgage Way
are here to support you to avoid risks to your income.

Even better, our service is free of charge to you*.

What is income protection?

Income protection is cover for when you suffer an illness or injury meaning you can’t work.

The cover benefits you directly, covering your essential household bills and
mortgage. It’s paid in monthly installments, helping you negotiate uncertain
financial times.

What is income
protection?

Income protection is cover
for when you suffer an illness
or injury meaning you can’t work.

The cover benefits you directly, covering your essential household bills and
mortgage. It’s paid in monthly installments, helping you negotiate uncertain
financial times.

What does it cover?

You can cover different levels of your earnings – usually a percentage of your full wage. This depends on the type of cover you choose. Any income protection should be enough to take the stress away from unavoidable bills if you’re unable to work.

Taking out a policy means you’ll receive a monthly income whilst you’re on the mend or looking for work. You’ll be able to stop worrying about unpaid bills or keeping your family fed. And focus on the future.

Both employed and self-employed people can benefit from income protection.

Income protection
for the employed

Are you an employee and think you’re covered by your employer if you’re ill?

Not all employers offer additional sick pay. Even if they do, there are usually limitations. It’s worth checking what your contract states first to see where there are potential gaps and risks.

The Statutory Sick Pay (SSP) issued by the UK government is currently under £100 per week. It also only covers you for 28 weeks. Is this amount enough to cover your bills and mortgage?

What happens after 28 weeks? If you’re an employee and you’re hit with a long-term illness or injury, a lack of financial support will add stress to your life. Income protection policies can bridge the gap for when your usual sick pay ends.

Income protection for the
self-employed

Are you self-employed? Being your own boss is great – but it’s your responsibility to protect yourself. You don’t get the traditional perks employees do.

Sole traders are not covered under the government’s SSP policy.

Qualifying directors of limited companies can receive the limited SSP support.

As a business owner, it’s even more important to protect your income. If you have an accident or serious illness and need to take time out, you have a business to keep afloat, whilst ensuring your personal income is covered and possibly also having to hire someone to help out in your absence.

The Mortgage Way are here to
support you every step of the way

How do I choose the
right cover?

At The Mortgage Way, we always start by looking at your
personal situation. We will present you with the best income
protection options to suit your budget and circumstances.

The type of cover and the monthly cost will depend on your –

– Type of job

– Household bills

– Family situation

– Mortgage amount

– Personal savings

– Your age and health

– Monthly budget for cover

– Your hobbies or lifestyle (for example, if you take part in extreme sports
your cover will be more expensive)

We give you the best deals on the market to suit your needs. You don’t pay a
penny upfront. Our broker service is free to you.

Pick the cover that works best and simply pay a monthly fee. Continue paying
to stay protected, but don’t forget to notify us if your personal situation
changes. We can amend the policy and perform another financial review.

How do I choose the
right cover?

At The Mortgage Way, we always start by looking at your
personal situation. We will present you with the best income
protection options to suit your budget and circumstances.

The type of cover and the monthly cost will depend on your –

– Type of job

– Household bills

– Family situation

– Mortgage amount

– Personal savings

– Your age and health

– Monthly budget for cover

– Your hobbies or lifestyle (for example, if you take part in extreme sports
your cover will be more expensive)

We give you the best deals on the market to suit your needs. You don’t pay a
penny upfront. Our broker service is free to you.

Pick the cover that works best and simply pay a monthly fee. Continue paying
to stay protected, but don’t forget to notify us if your personal situation
changes. We can amend the policy and perform another financial review.

How much income does it cover?

There are policies that pay you either a fixed amount each month or a percentage of your usual earnings.

You can also set a deferred period. This is the amount of time from becoming ill or injured to the start of your claim. The longer the deferred period for your payments to start, the more affordable your cover.

Consider how long you could manage being off work without taking a huge financial hit. Is this one month? Two months? No matter your financial situation, there’s an income protection cover to suit you.

Why choose The Mortgage Way
for your income protection?

There’s no risk in you having a conversation with The Mortgage Way about
your finances. Discuss your current situation and we will give you the best
deals available to suit your needs and current budget.

All our advice is free of charge*.

The Mortgage Way offers expert advice on all areas of your finances. With a free evaluation,
we can make sure you and your family are protected. Whether that’s through income protection,
home insurance, or critical illness cover, you can feel in control. Contact us to start looking after your future.

Pick the cover that works best and simply pay a monthly fee. Continue paying to
stay protected, but don’t forget to notify us if your personal situation changes. We can amend
the policy and perform another financial review.