COOKIE POLICY | PRIVACY POLICY | DISCLAIMER



Tel: 01403 780 770

Building and protecting your wealth

No income protection. What is your risk?

Income Protection is a long-term insurance policy that provides peace of mind to an individual if they find themselves unable to work due to illness or injury. These policies offer coverage during a stressful time and allow you to continue to receive a steady flow of cash while you’re off work.


This does not constitute advice and advice should be sought in all instances before acting on it.


If you don’t currently have a plan in place for how your family could survive with the loss of income, Income Protection insurance is a viable option.

Income protection is often not a priority for many working individuals, but for self-employed doctors and dentists, unexpected time off can be detrimental. Even something seemingly as innocuous as a broken foot or hand could interfere with the demands of your practice. And without a plan to replace your income, you could dip heavily into savings or run up debt. You might even run the risk of losing your home if the situation becomes too dire.


What you get

A good policy will often provide up to 75% of your income during your time off work and payments will continue until you are well enough to return to work. There’s usually a waiting period before you can collect, but used in conjunction with any sick pay you may be entitled to or other insurance you may have, there’s no need to worry about losing any income while you recover. Income protection covers a wide variety of illnesses and injuries, but be sure to review your specific policy to ensure that the most likely illnesses or injuries are covered.


What’s at risk?

Understanding the benefits of this type of coverage might make taking out a policy a no-brainer, but shockingly few people have protection. According to research conducted by LV=, almost 60% of dual-income households have absolutely no type of coverage. For families dependent on both spouses working, losing one of those for even a short period of time can be detrimental — and put a tremendous strain not just on finances, but potentially their relationship as well.


Read our guide on Income Protection to find answers to your most frequently asked questions.


To learn how you can incorporate it into your overall financial plan, don’t hesitate to get in touch with a team member for personalised planning.


Want to protect your family from financial stress?
Investments | Financial Planning | Retirement | Save Tax | Protection |

Dental & Medical Financial Services have been helping doctors and dentists to build and protect their wealth, whilst saving tax for over 25 years.
Call Darren to discuss your options.

icon_phone
Tel: 01403 780 770

 

Follow us on for regular financial and mortgage updates

Twitter                     LinkedIn

If you found this article interesting, why not share it?


Meet the Advisers

With over 20 years experience our advisors can help you meet your business and personal goals.


Who we Help

All our clients are doctors and dentists, just like you. As specialists we know your industry inside out.


Info & News

Make this the place you visit to keep up to speed with financial news for your sector.


Contact Us

Wherever you are in the UK we can help you build and protect your wealth.

Get Connected

to our specialist team

Tel: 01403 780 770
Email: info@dentalandmedical.com

Keep Updated

Simply register your name and email below and receive our updates direct to your inbox

Dental & Medical Financial Services News Updates

Just for doctors and dentists

Read more news

COOKIE POLICY | PRIVACY POLICY | DISCLAIMER


Dental and Medical Financial Services is an appointed representative of Best Practice IFA Group Limited, which is authorised and regulated by the Financial Conduct Authority. Company registered in England no. 9158580 Registered office: 1 Market Square, Horsham, West Sussex, RH12 1EU

© 2014 Dental & medical Financial Services. All rights reserved. Website design by Goldmine Media.