Income Protection vs Life Insurance
Get both life insurance and income protection cover for enhanced protection for you & your family
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Put together life insurance and income protection for more cover
If you’re looking at ways to safeguard you and your family, you might be trying to decide between life insurance and income protection insurance. For a complete safety net however, you should really consider both, as they protect you in different ways.
Life insurance will pay a lump sum to your beneficiaries in the event of your death, whereas income protection insurance is designed to take care of you if you are unable to work due to injury or illness. When you buy both, you have the peace of mind of knowing that you and those around you with have added financial stability in a range of circumstances.
At Go Protect Me, we’ll never sell you cover you don’t want, but we can make sure that you have all the security you need; whatever happens.
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Why Choose Go Protect Me?
As 5* rated brokers for life insurance and income protection insurance, we are dedicated to providing each and every customer with the best life insurance policy for their needs. Here are some reasons to use us.
Why should I buy income protection & life insurance cover?
Financial security whatever happens
Life can be unpredictable. Buying life insurance together with income protection insurance offers protection for you and your family in a range of circumstances.
If you fall seriously ill, or have an accident, income protection insurance will help you meet your financial commitments, and pay regular bills such as mortgage costs, rent or utility bills. When you also purchase life insurance, you also have the added comfort of knowing that in the event of your death, or a diagnosis of terminal illness, your family will be taken care of with a lump sum payment.
Help avoid debt
Monthly payments from an income protection insurance policy can help you avoid going into debt, while the settlement from a life insurance policy may allow your family pay off any outstanding debts. The sum received from a life insurance policy may also be used to cover the unexpected costs associated with a funeral.
Peace of mind
Protecting yourself with both life insurance and income protection cover can save you from worrying. Whether that’s worrying about paying your bills if you are too sick to work, or that’s worrying about how your family will manage if you’re no longer around, getting the right insurance can take a weight off your mind.
How much will it cost to get life insurance & income protection insurance?
Your monthly premiums will depend on several factors.
Age
Both life insurance and income protection policies will generally cost more the older you are.
Occupation
Some jobs attract higher premiums than others because they are considered higher risk. This applies to both life insurance and income protection insurance.
Health
If you are currently healthy with no history of ill health, your premiums for life insurance and income protection insurance will tend to be lower than if your health is poorer.
Level of coverage
When you take out a policy you will determine how much cover you want. When calculating the level of cover, you should consider things like how much you need to cover your essential outgoings, for income protection, or how much your loved ones would need if you were no longer around.
This should be balanced with how much you can afford to pay out, as the higher your cover the higher your premiums.
Lifestyle
Smoking, alcohol consumption or taking part in risky activities, such as extreme sports, can all increase how much you pay for income protection insurance or life insurance.
Deferred period
Income protection policies contain a waiting period. This is the period you wait before you receive your first payment. You can bring down the cost of income protection insurance by choosing a longer deferred period.
Speaking to the experts at Go Protect Me can help you get the most competitive deal for life insurance and income protection insurance. While we can’t change your age or medical history, we can look at policies from all UK insurers to find the most appropriate one from you.
To Speak To An Expert, Call 0330 818 6850
Open: Mon-Tue 9am-7pm, Wed-Thu 9am-6pm, Fri 9am-4pm
Alternatively request a call back at a time convenient to you.
Contact the experts
The team at Go Protect Me are income protection specialist and life insurance experts. We will work with you to build a package of both life insurance and income protection that offers you the best possible protection.
We work with people from all backgrounds and professions, and we’re confident that we will be able to find a great seal for you.
Contact us today for a free quote.
Free financial health check
Get the added bonus of a complimentary check on your finances by one of our Client Relationship Managers. We’ll take a look at all of your finances and offer advice on savings and investments. There’s no obligation and no charge.