Protecting your income
One of the biggest worries for those thinking about getting income protection is cost. This can vary, depending on how much of your income you would like to cover. But considering how much a loss of income would impact your life, can you really afford not to be protected?
In many cases individuals look to insure their pets, electronic devices, house & car but forget that everything could be lost if your income stopped due to health problems, or if you need to take time off work to look after a sick child.
After all how would you continue to pay the mortgage, your broadband and phone bill, run the car and feed the family (including the dog) should your income stop?
Low cost income protection -“Budget”
Fortunately getting cover just got cheaper; LV has expanded their offering to deliver 12-month and 24-month Budget Income Protection options to reduce the price significantly.
This is a more affordable choice for those looking for short term cover giving you a one of two year safety net to get back to work. As with most income protection polices, you can claim multiple times and the policy has no standard exclusions.
LV= has added the 12-month claim period with the inclusion of their added benefits, such as parent and child and valued online doctor services.
They will continue to offer their 24-month Budget Income Protection policy, and both policies can be combined with other cover options such as critical illness.
Income protection for children
LV= offer a unique feature called “Parent and Child” cover with their income protection plan for free. This allows a parent to recieve financial assistance enabling them to take time off and care for their child in a time of need.
“LV= will pay a lump sum if your child is diagnosed with a specific illness, or undergoes a specific operation or medical procedure*.”
The amount paid will equal six times the monthly amount of cover on the main Income Protection policy (subject to a maximum payment of £25,000) and covers one payment per child per policy.
“The money paid could allow you to take unpaid leave from work to care for your child, or cover costs associated with medical treatment.”
As with other types of cover, income protection is there to deliver peace of mind. To suit any budget, LV now offer a range of cover options, from their new short-term 12 month cover, to full-term policies for long-term protection.
To get a quote from LV= and the rest of the market either give us a call on 0800 024 8685 or click the button below to search and filter your results online: