There are so many different types of protection policies available in the market that it can seem rather dauting to choose the right product.

Taking life assurance as an example, a policy:

  • Can have decreasing, level or even increasing cover.
  • Can have bolt-ons such as critical illness, waiver of premium and indexation.
  • Can have guaranteed premiums, reviewable premiums or can be renewable.
  •  Can be set up on a Family Income Benefit basis.

Due to the large number of options and complexity of some policies we believe that people need to obtain professional advice. 

At Chris Evans Mortgage Services  we will explain all the options available to you, without the jargon, so that you have protection that is suited to your requirements.

Income Protection

If you were sick or injured and couldn't work how would you pay the bills?

If you are employed and you qualify for Statutory Sick Pay you may receive £116.75 per week for up to 28 weeks (*correct as at April 2024). 

If you are self employed you may apply for Employment and Support Allowance. While your claim is being assessed you’ll normally get the ‘assessment rate’ for 13 weeks. This will be up to £71.70 a week if you’re aged under 25 and up to £90.50 a week if you’re aged 25 or over (*correct as at April 2024).

*Source: HMRC

Income Protection is an insurance policy that pays out if you're unable to work because of injury or illness. Income protection usually pays out until retirement, death or your return to work, although short-term income protection policies, which last for one or two years, are also available at a lower cost. 

Neither income protection or short-term income protection pays out if you're made redundant - but they will often provide 'back to work' help if you're off sick. 

Income protection is different from critical illness insurance, which pays out a lump sum if you fall seriously ill.

As with all insurances, conditions and exclusions will apply.