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Income Protection Advice in Lincoln

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Income Protection Advice in Lincoln

Financial support if you become ill or disables and are unable to work. Ensuring you have regular income payments until you can return to work.

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Income Protection Insurance Advice in Lincoln

Income protection insurance ensures a regular income in case you can’t work due to illness or disability, lasting until your return to work or retirement. It covers various conditions, anticipating your ability to resume work. If retirement age is reached without returning to work, coverage ends. Payouts are capped based on your salary. We can help you choose the right policy, tailor specifications, and assess if income protection suits your needs.

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Income Protection Advice in Lincoln

Do I need Income Protection Insurance in Lincoln?

We offer a free insurance review for new and existing customers in Lincoln, conducted by our protection and mortgage advisors in Lincoln. . Considering the potential cost of Income Protection, especially with the possibility of multiple payouts, we recommend assessing the overall costs and coverage of existing policies.

When obtaining an Income Protection policy, understanding its coverage and terms is crucial. Our advisors in Lincoln will guide you through these details. During the review, our team will evaluate your personal and financial circumstances, including lifestyle, age, and medical history, to determine if Income Protection is the right choice for you.

 

 

 

Speak to an Income Protection Advisor in Lincoln

At Lincolnmoneyman, we provide a complimentary insurance review for every customer, offering expert mortgage advice in Lincoln. We assess your personal and financial situation to determine if Income Protection is suitable, taking into account factors like lifestyle, age, and medical history, influencing monthly premiums.

Income Protection insurance can be costly, especially with a short deferred period. It’s advisable to evaluate total costs and coverage when you have other policies. Before obtaining your policy, understanding payout specifics and conditions is crucial, and our Protection Advisor in Lincoln will assist you with this.

 

 

 

 

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Income Protection Insurance FAQs

What is income protection insurance in Lincoln?

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Income protection insurance provides a monthly income if you’re unable to work, with options for continuous payments until you can return or a short-term version for a limited period per claim.

How does income protection insurance in Lincoln work?

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In the event of illness or disability, income protection insurance in Lincoln offers lump sum payments to assist with expenses like mortgage payments. A deferral period, determined when setting up the policy, may apply after a claim, allowing for employer sick pay consideration. A shorter deferral period typically results in higher costs.

Do I need income protection insurance in Lincoln?

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Existing income protection insurance may be part of your employer’s benefits or obtained separately. Reviewing your employment contract can reveal provided policies.

If you have other coverage like Critical Illness, addressing specific conditions preventing work, income protection may be unnecessary, but reassessment is wise. Some rely on savings instead, but consider if it can cover unexpected emergencies and additional time off.

Evaluate whether your savings adequately cover living expenses during the required period and account for unforeseen emergencies, ensuring financial preparedness.

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Reviews Stars4.99 Rating103 Reviews

Our Simple Insurance Process

Free 30-Minute Insurance Review

Step 1

Please speak with a dedicated protection advisor in Lincoln to discuss the potential insurance options that are relevant to your needs. Alternatively, you can consider listening to our recommendations.

We Will Search Through Different Insurance Products

Step 2

We will meet your available monthly budget and create a tailor-made plan that surrounds your current personal and financial situation.

Submit Your Insurance Application

Step 3

Once we have found the right product for you and you are happy to continue, we will submit your application to the provider. Occasionally, the policy provider may return to us for further information before they will consider accepting the application.

Protecting You and Your Family

Step 4

If you have also taken out your mortgage with us, we will contact you again at the time of the remortgage. We will also take this time to look at any policies you have in place.

Reasons to Choose Us

Free Protection Review

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We offer all new/existing customers a complimentary protection review where we will examine any current policies you have and assess their suitability. Afterwards, we will suggest which products, such as critical illness income protection and/or life insurance, align with your requirements. If necessary, we will tailor the plan to fit within your monthly budget.

1000's of Deals

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Your protection advisor in Lincoln will consistently provide clear and transparent mortgage advice in Lincoln. Throughout the process, they will work on your behalf to find the most suitable arrangement based on your personal and financial circumstances.

Our Service

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As a mortgage broker in Lincoln, with over 20 years of experience in the mortgage and protection industry, we have assisted numerous customers in acquiring Income Protection products in the past and we could assist you next!

7 Days a Week

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Our protection and mortgage advisors in Lincoln are dedicated to ensuring your protection and securing the appropriate policy that will provide financial assistance when it is most needed.

Malcolm and Amy Davidson - Mortgage Advice Lincoln

Finding you the Right Income Protection Insurance in Lincoln

Fleet Mortgages
Paragon Mortgages
TSB Mortgages
Halifax
Bluestone Mortgage Advice
BM Solutions Mortgages
Chorley Building Society
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HSBC
Nationwide
Skipton
Pepper Money
Mortgage Works
Coventry Building Society
Santander
Natwest Mortgage Advice
Newcastle Building Society
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Accord Mortgages
Aldermore Mortgage Lender
Beverley Building Society
Kent Reliance
Virgin Money & Mortgages
Leeds Building Society
Scottish Widows
Foundation Home Loans

Different Types of Income Protection Insurance in Lincoln

Accident, Sickness and Unemployment (ASU)

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This Income Protection covers unforeseen events impacting your finances, like accidents, illnesses, or unemployment. It provides tax-free monthly lump sum payments for 12 to 24 months, supporting you during illness, accidents, or job loss until you can return to work. Once paid out, you have flexibility in using the money.

Payment Protection Insurance (PPI)

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The coverage extends to regular monthly debt repayments such as loans, mortgages, and credit cards, especially if you’re unable to pay due to inability to work. You specify the coverage duration when taking out the policy, typically designed for short-term protection.

Mortgage Payment Protection Insurance (MPPI)

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For mortgage-related financial challenges, Mortgage Payment Protection Insurance (MPPI) can cover your mortgage payments for up to 12 months or until you return to work. While it may not replace your full income, it can assist with bills and minor expenses, with payments ceasing upon your return to work.

Mortgage Guides

Lincolnmoneyman.com & Lincolnmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.

UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

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