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Income protection is a type of insurance that covers you if you are unable to work after being diagnosed with an illness or disability. You will receive payments through a regular income until you can return to work or retire.
Income protection covers you for many types of illnesses and disabilities, but the expectation is that you can return to work eventually. In some cases, you cannot return to work and in this case your insurance expires as soon as you reach retirement age. Income Protection can pay out more than once, however, there is a cap on how much you can receive which is based on your salary.
You must also provide your policy with a deferred period. This time is the length of time that it will take for your policy to start paying. First, you must use your savings, employee sick pay scheme or other income. Once the deferred period is over, the policy will begin to pay. The shorter your deferred policy, the higher the cost of your premiums.
There will be differences among most of the policies that are not the same, no two people are the same. As a mortgage broker in Middlesbrough, it is our job to recommend the right policy for you and determine what specifications you will need in place for your Income Protection insurance policy.
We have also dealt with customers who have never had to claim their insurance. Ultimately, it is more important to have something in place in case your circumstances change. If you want to find out if Income Protection would be beneficial for you and your personal situation, contact us for a free initial insurance review in Middlesbrough.
At Middlesbroughmoneyman, we can offer you a free Insurance review with one of our protection advisors in Middlesbrough, During your review our team will go through your personal and financial situation and see if Income Protection will be the most suitable option for you. Your lifestyle, age and medical history will be factored into your Insurance review so that we can work out what policy you are looking for.
Income Protection can be costly, as it can pay out numerous times. If you have additional Insurances policies in place, it could be beneficial to work out the total costs and what you are covered for.
Upon taking out your policy, make sure you are aware of what it pays out for and the conditions that come with it. Your protection advisor in Middlesbrough will help with this.
Income protection insurance is designed so that it can pay you a monthly income if you happen to become unable to work for any reason. Previously known under the name of permanent health insurance (PHI), it can come in two variants, either with a monthly sum that pays out until you can work again, or a short-term version that only pays out for a limited period of time per claim.
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.
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Thuthu
Thanks so much for your great job and excellent service thanks so much your team has been amazing 😻 Regards Thuthu and Christian
5 months ago
Thuthu
Thanks so much for your great advice and your excellent service 😃😃
5 months ago
Anonymous
I am very happy with Middlesbroughmoneyman helped me understand and explain everything with no problem at all
9 months ago
Mr Jamie
I would highly recommend this company. They’ve been a massive help. With the mortgage process talking through step-by-step and Couldn’t thank Malcolm, and Amy from the team Enough with the service that they provided is five star in my rating
1 year ago
Miss Laura
Malcolm has been amazing from start to finish! He has made this process so much easier and helped us every step of the way. His knowledge and patience is outstanding and I would highly recommend him and his team! Thank you again, we really can’t...
1 year ago
Claire
Moneyman has been a life changer for us. We would not be able to start on the property ladder if it weren't for Debbie and Matt. Matt has helped us through the stress of buying a house in this climate and they have both been nothing but supportive...
2 years ago
Jack
Excellent service! takes away a lot of the stress involved and if you're as clueless as I am these guys are a godsend.
3 years ago
Tania
Excellent service! Could not recommend Moneyman enough. Matt and Molly were always available to answer queries, constantly chased up on our progress and kept us informed of the process the whole way through. Thank you!
4 years ago
Olivia
I cannot thank Tom and his team enough. Tom, Stacey, Kerry, and Kayleigh were so helpful in providing a service that was above and beyond what we expected. They were always happy to answer any questions (even when I asked a million). Even before...
4 years ago
Edward
I’ve got to say I’m over the moon after contacting Middlesboroughmoneyman, they assigned me my own mortgage Advisor called Nathan and him and Laura from his team walked me through every step of the way. Here i am 39 years old and 40 in a couple...
5 years ago
Morgan
Kayleigh, Malcolm and the team made the whole process a very pleasant experience. I would highly recommend them to anyone looking for a mortgage broker who provided a great service with reassurance and advice along the way.
6 years ago
Michael
Responsive from the first point of contact (I received a call within minutes of making an online enquiry) I wouldn't hesitate to recommend these guys. You will deal with a few different people through the process but it works really well, they are...
6 years ago
Jonathan
fantastic service, would recommend to anyone looking for help with getting a mortgage. Both chris and mel have been excellent and have always been there at the end of the phone, text or email to answer our questions. thank you to both very much.
6 years ago
Discuss with a dedicated protection advisor about possible relevant insurances you would like to take or that we can suggest to you.
Your protection advisor in Middlesbrough will run through you health background with you, gathering some initial information.
We will build a tailored plan surrounding your current personal and financial circumstances, meeting your available monthly budget.
Our team can search through 1000s of insurance products to find the most suitable one, to protect you and your family.
Once we have found the appropriate product for you and you are happy to proceed, we will submit your application to the provider.
From time to time, the policy provider may come back to us for further information, before they will look at accepting the application.
If you took out your mortgage with us too, we will be back in touch with you at remortgage time. We will also take this time to review any policies you have in place.
Circumstances change and the policies you took out at the start of your mortgage, may no longer be suitable for you at remortgage time.
We offer all of our customers a free, no-obligation protection review where we’ll 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.
Your Protection advisor in Middlesbrough will always be open and transparent with you. From start to finish they will work for you, trying to find you the most suitable deal possible based on your personal and financial situation.
We have more than 20 years of experience in the sector with all kinds of types of policies. We have helped many customers take out Income Protection products in the past and we could help you next!
Our Mortgage and protection advisors in Middlesbrough want to make sure that you are protected and have the correct policy in place that will give you financial help when you need it most.
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Middlesbroughmoneyman 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.
© Middlesbroughmoneyman 2025.
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Middlesbroughmoneyman 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.
© Middlesbroughmoneyman 2025.
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