Pandemic Prod to Remember Income Protection - Simmonds Mortgage Services

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Pandemic Prod to Remember Income Protection

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    Next to its better-known insurance siblings, income protection can sometimes be overlooked. The pandemic has provided a timely reminder of its importance.

    Furlough effect

    The Government Coronavirus Job Retention Scheme, popularly known as ‘furlough’, supported up to 8.9 million people when they were unable to work during the pandemic. Having experienced the importance of such support, millions of people have been exposed to how income protection could also be of benefit.


    Income protection policies pay a percentage of your salary if you are unable to work due to illness or injury. Policies cover physical illnesses such as COVID-19 as well as common mental health conditions. There is normally a deferred or waiting period before payments begin.

    Is your sick pay enough?

    Some employees assume they can access sick pay through their job – but this is often not the case.

    Indeed, even those who are entitled to some form of sick pay will often find the pay-outs are insufficient to meet their regular outgoings, especially in the case of long-term illnesses.

    Your cover

    You can personalise your policy to suit your circumstances and budget. We are here to help you tailor your support to your unique needs.

    As with all insurance policies, conditions and exclusions will apply


    1. IPTF

    2. Personal Finance Society

    Andrew Simmonds

    Andrew Simmonds

    Andrew Simmonds is the managing director at Simmonds Mortgage Services. He's been providing mortgage advice to home owners for many years.

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