Has inflation reduced the value of your income protection insurance?

Just a quick reminder that insurance should never be ‘set and forget.’ In the case of income or mortgage protection, it can quickly become out of date after wage rises and inflation.

That’s because your cover may not automatically increase, even though things are a lot more costly than a few years ago. Your income may have risen, too, so you become used to a higher standard of living. You’ll need to make sure your cover keeps pace.

There’s an easy way to check. 

Just ask us to review your cover to ensure it reflects your current needs. In today’s interest rate climate, your monthly mortgage payments might have gone up a lot. We’ll make sure you can still meet them if life takes an unexpected turn.

And if you don’t have income protection, ask yourself: Could I survive on my savings for three to six months if I got sick tomorrow? 

If the answer is no, we should talk.

It costs you nothing to review your insurance with our team. Get in touch.