Getting income protection advice is important for a number of reasons. It’s a long term financial commitment. Not only that, but it’s important to have the right cover.
At DG Mutual we are income protection specialists. It’s the only type of insurance we provide. As a mutual friendly society we are organised for the benefit of our policy holders (members). We aren’t afraid to tell people they don’t need cover if that’s the best option for them. However the vast majority of high-flyers, company directors and self-employed business people have substantial commitments. Being unable to run your business or do your job can lead to a substantial gap between income and outgoings. That’s where income protection insurance can help bridge the gap if needed.
Income protection insurance then can replace part of your income, on a regular basis until you’re able to work. But policies typically have a deferred period before payments start. It is a completely different type of policy to critical illness cover or payment protection. On top of that there are many subtle variations in cover, meaning professional advice can be a great asset to structuring a policy that works for you.
Insurance is an area that’s confusing for many people. Typically high earners end up with a number of policies which can overlap. This means you can end up paying for the same cover twice. Alternatively, you may find your cover isn’t what you thought it was.
You may already have a good relationship with a broker, but they are unlikely to be an expert and if they are, may not have access to industry-leading policies. A listed insurance company has to answer to shareholders whereas we are run for the benefit of our policy holders. The profits made by us are shared between policy holders (our members) at the end each policy (on retirement or death).
Established in 1927 our policies are only available direct from us and you won’t find us on any comparison websites. We appreciate the “small print” on policies can have a big impact on how they are structured which is why we put all our documents on our website for you to browse at your leisure: Nothing is hidden or obscured and there is never any pressure from us. Whether you speak to us first or last, advice from an income protection expect will help you make the right choice for your circumstances.