Independent Wealth Management

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Five Reasons for Income Protection

  • We insure our cars, phones, even our Sky box in case they stop working, but often not ourselves. But with over 2.2m people out of action due to long-term sickness [1] we’re just as prone to ‘breaking’ and the financial consequences are much more severe.
  • It’s a lot more likely you’ll be off long-term sick than die or suffer a critical illness during your working life. [2]  Income Protection is the one insurance we really all should have, yet more of us have life cover or critical illness cover.
  • Nearly everyone has long term financial commitments and income protection provides long-term protection to cover these.
  • Most of us couldn’t survive financially on an income of around £5,000 a year, [3] which is all the state would provide for long-term sickness (if you’re able to qualify in the first place!)
  • It’s becoming increasingly hard to qualify for state benefit. In the first year of Employment Support Allowance only 20% of claimants were deemed unable to work, compared to 83% under the previous Incapacity Benefit. [4] Private provision is becoming essential.

[1] Labour Market Statistics, September 2010, [2] Defaqto, 2008,
[3] DWP, 2010, [4] Crisis, September 2010

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Barry from Professional Wealthcare in Camberley has provided my family and I with expert financial advice for a number of years now. His practical, down to earth approach is very much appreciated as it can be quite a dry subject. He has advised very knowledgeably, on a wide range of related topics such as mortgages, insurance and pensions and has been an absolute pleasure to work with. I would happily recommend Barry to anyone.

Brian Davies

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