Income protection ensures your customers aren’t left struggling to keep up with expenses and financial commitments while they are unable to work due to illness or injury. It’s an exceptionally useful policy to have and offers a great deal of peace of mind for any customer in full time employment who depends on their income to support themselves and their beneficiaries.
The problem however is that the long-term costs of such a policy can be too much for some customers, causing them to instead consider suffering the potential fallout in hopes that they won’t ever take ill or endure a serious injury.
Budget income protection is a short-term solution which will provide your client with financial support over a limited time period of up to 5 years. With more manageable premiums and a less lengthy policy term, this might tick all the boxes for your more frugal clients.
