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Income Protection Insurance is designed to pay out a monthly benefit if you are unable to work due to illness or accident. The applicant can decide along with the help of their Advisor on how much cover to take out for the claim. They can also choose how long they are prepared to wait before they are entitled to put a claim in.
Income Protection insurance can be expensive in comparison to life cover. As you are far more likely to be unable to work due to illness than die. The monthly benefit continues to be paid out until you return to work unless you have selected the “Budget” version of the policy. This typically only pays out for 24 months but is much cheaper.
The big advantage of Income Protection Insurance is that unlike Critical Illness Cover it pays out for whatever is preventing you from working. Unlike Critical Illness which is just a list of specified illnesses.
This type of policy is very popular amongst the self-employed and also employed applicants who do not benefit from generous Employer sick pay schemes.
We are pleased to offer a complimentary insurance review to all new and existing customers in Nottingham, conducted by one of our expert protection and mortgage advisors in Nottingham.
Income Protection can be a costly investment, considering the potential for multiple payouts. If you already have other insurance policies, we recommend assessing the overall costs and coverage provided by each policy.
When you decide to obtain an Income Protection policy, it is essential to fully understand its coverage and associated terms and conditions. Our protection and mortgage advisors in Nottingham will assist you in navigating these aspects.
During your free initial insurance review, our dedicated team will carefully evaluate your personal and financial circumstances to determine whether Income Protection is the most suitable choice for you. Factors such as your lifestyle, age, and medical history will be thoroughly reviewed to identify the optimal policy for your needs.
It’s very important to us that all of our customers are given an equal opportunity to take insurance our through ourselves. We wouldn’t be doing our job right if we didn’t mention it!
We offer all of our customers a free, no-obligation protection review where our mortgage advisors in Nottingham will have a look at any existing policies you have in place and assess their suitability. We’ll then recommend which products, including critical illness and income protection that meet your needs. If required, we’ll then tailor the plan to match your available monthly budget.
Providing Income Protection Insurance Advice in Nottingham & Surrounding Areas
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £495.
Income protection insurance is designed so it can pay you a monthly income if you are unable to work for any reason.It can come in two variants, either with a monthly amount that pays until you can work again, or a short-term version that pays only for a limited period per claim.
At the point where you become unable to work due to illness or disability, you will receive lump sum payments from income protection insurance in Nottingham, to help cover things like your mortgage payments when you have become unable to earn the income to cover it.
There may be a postponement period after a claim, where the provider will hold off if your employer may offer you sick pay for a certain period, although this period can be determined when you set up your policy. A shorter deferral period usually means higher costs.
You may already have Income Protection Insurance in place, which can be obtained separately or as part of your employer’s benefit program. It is advisable to review your employment contract to find information about the insurance policies provided by your company.
If you already possess a different type of insurance policy, such as Critical Illness cover, which specifically addresses illnesses and disabilities that can prevent you from working again, you may not require income protection. However, it is still a good idea to review your existing coverage to determine if there are any additional policies you may need in the near future.
Some individuals may choose to save money on Income Protection Insurance and rely on their savings instead. If you prefer to use your savings, it is important to assess whether you can adequately cover your living expenses during the required period.
Consider this perspective: What if you need more time off due to another unforeseen emergency? Do you have sufficient additional savings to cover the associated costs?
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Robert
UK Money Man, Conor and the team were great and sourced us a mortgage that we were unsure we could get. Second time using UK Money Man and we would certainly use them again. Fantastic service
1 month ago
Olivia
As a first-time buyer, I wasn’t really sure what to expect with getting a mortgage, but Matt at Nottingham Money Man was brilliant from start to finish and immediately put us at ease from the first phone call. He explained everything really...
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Very helpful, just what we needed.
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Karen
Smooth transition. Meetings on time. Lovely and really helpful staff who know what they’re doing and all for your best interest.
2 months ago
Katie
These mortgage brokers are amazing, there quick responses made a stressful time feel like a breeze and answered any questions I had promptly and in detail. I could not recommend a better mortgage broker!
2 months ago
Christian
Great service and independent advise one again and our 3rd remortgage with Nottinghammoneyman. Found us a great option once again and a mortgage offer recieved very quickly. Would strongly recommend to anyone.
3 months ago
Abigail
I've used these Mortgage Brokers since I purchased my first house. I have renewed my mortgage with them twice since, it's helpful that they send you a reminder to discuss options 6 months before the renewal. Conor Longthorn who helped me with...
3 months ago
Anonymous
The staff (Matt and Lewis) were really helpful at every stage and got me a mortgage without much hassle at all.
3 months ago
E
Brilliant service from Paula Milner and Malcolm! If you have a particularly complex case as mine was this is the team whose hands you want to be in. Paula has the patience of a saint and handled the ups and downs of this process with empathy and...
4 months ago
Anna
Have dealt with this company for a few years now. Always seems hassle free and straight forward. Very good communication via email and phone appointments. Will continue to use and recommend 👍
4 months ago
Mr Christopher
Was very helpful and couldn’t thank enough
4 months ago
Dylan
Can’t thank Leo from Nottingham Money Man enough, with us every step of the way answering all the questions us as first time buyers had and helping with organising solicitors and lift insurance, can’t recommend this gent enough.
5 months ago
Tom
Charlie and Lizzi were always quick to respond whenever we got in touch and never failed to be helpful with all of our queries and requests.
5 months ago
James
This was my third mortgage with Nottinghammoneyman and they were excellent as always. There were lots of issues with the lender and they took the stress off by chasing them for me a lot.
7 months ago
Maggie
Both Dinah and Jo were great,friendly patient when answering my questions and throughly professional at all times. I am a first time buyer so knew nothing of the process involved. So thank you Dinah and Jo you couldn't have made it any easier for me
7 months ago
Emma
Malcolm was very patient, with me taking a long time to choose a property and with me being very indecisive. He support me through the whole thing and was always at the other end of the phone for any question or support!
7 months ago
Shaun
Listened, advised well and very efficient. Excellent
7 months ago
Anonymous
Very friendly and efficient service
8 months ago
Benjamin
All ways out standing all ways there to help and find a very good deal 5 star service every time
9 months ago
Callum
Fantastic communication from everyone. Helpful and supportive at every step, couldn't ask for more.
9 months ago
Please consult with a dedicated protection advisor in Nottingham to discuss the potential insurance options that are relevant to your needs. Alternatively, you can consider listening to our recommendations.
When you meet with one of our mortgage and protection advisors in Nottingham, they will go over your medical history with you. This process involves gathering some initial information in order to make an informed decision.
We will meet your available monthly budget and create a tailor-made plan that surrounds your current personal and financial situation.
Our team can search the market, to find the most suitable insurance product, to protect you and your family.
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.
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.
The circumstances change and the policies you took out at the beginning of your mortgage may no longer be suitable for you at the time of your remortgage.
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.
Your protection advisor in Nottingham will consistently provide clear and transparent mortgage advice in Nottingham. Throughout the process, they will work on your behalf to find the most suitable arrangement based on your personal and financial circumstances.
As a mortgage broker in Nottingham, 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!
Our protection and mortgage advisors in Nottingham are dedicated to ensuring your protection and securing the appropriate policy that will provide financial assistance when it is most needed.
This form of Income Protection provides coverage for unexpected events that can disrupt your finances. In life, you may encounter accidents, illnesses, or unemployment, all of which can impact your income.
This protection comes into play when you fall ill, have an accident, or lose your job. You will receive monthly lump sum payments that are tax-free and serve as compensation for your lost income. These payments usually continue for a period of 12 to 24 months. The aim of this policy is to support you until you can return to work.
Once the policy is paid out, you have the flexibility to use the money as you wish.
This type of income protection also covers your regular monthly debt repayments, such as loans, mortgages, and credit cards, that you are unable to pay due to your inability to work.
When you take out this policy, you will need to specify the duration for which you want the coverage to be in effect. Generally, these policies are designed for short-term protection.
If you become unable to work and struggle to keep up with your mortgage payments, Mortgage Payment Protection Insurance (MPPI) can cover these costs. Instead of providing your full monthly income, it is typically utilised to cover your mortgage payments. In some cases, you may receive a slightly higher amount to cover bills and other minor expenses.
Usually, your mortgage payment protection insurance will only provide coverage for up to 12 months or until you can resume work. Once you are back to work, the payments will cease.
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Nottinghammoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Nottinghammoneyman 2025.
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Nottinghammoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Nottinghammoneyman 2025.
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