We read something shocking recently. Recent figures show that around 40% of UK adults have less than £1,000 in savings. For many households, that would cover only a few weeks of bills. Nowhere near enough to keep up with mortgage repayments if their income stopped unexpectedly. How do your savings look? Do you think you could last three months without your income?
As brokers, we spend a lot of time helping clients secure the right deal, stress-testing affordability and planning for interest rate changes. But one risk is often underestimated: what happens if the income paying the mortgage disappears due to illness or injury? Think, it could be as simple as kicking a football in the garden and breaking your ankle, or the more devastating effects of cancer and rounds of chemo.
From our perspective, discussing income protection isn’t about scaring you. It’s about responsible, holistic advice. Mortgages are paid from income, not from good intentions or long-term plans. Protecting that income helps protect the home you’ve worked so hard to secure. Unfortunately, in our line of work, we see these things more than we’d like to.
Savings can run out quickly. Statutory Sick Pay is limited, and for the self-employed, it may not exist at all. Yet the mortgage payment doesn’t pause just because life takes an unexpected turn. This is where income protection plays a vital role.
Income protection is designed to replace a portion of your income if you’re unable to work, helping you continue to meet essential commitments such as your mortgage, utilities, and everyday living costs. For many clients, especially first-time buyers or those stretching affordability, this can be the difference between staying on track and falling into financial difficulty.
With so many people holding minimal savings, income protection should be seen not as an optional add-on, but as a natural part of the conversation. We are helping you build resilience.
Let’s see how a policy can slot into your life, budget, and protect your future.
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