How long would you be able to maintain your lifestyle and repayments if you were prevented from earning an income?
Most employees have access to 10 sick days per year, with the self-employed having no access to paid leave entitlements.
Income protection provides regular payments of up to 75% of your gross salary until you are able to work again or if you are unable to return, up to the age of 65. Income protection is generally tax deductible and provides financial security in the event of an accident, illness or trauma. The benefit period is the duration for which you will be likely to receive benefits, generally ranging from one year to age 65.
This form of protection is designed to help you pay your bills, mortgage repayments, school fees and day-to-day living expenses. Your savings might only cover you for a period of time, whereas income protection can cover you up to the age of 65.
Contact Solution Home Loans today to speak with a financial planner in regards to your level of personal protection. SHL can ensure that you have access to a professional who can assist in protecting your future from the unexpected.