We don’t share stories like this to frighten anyone.
Real life has a habit of stepping in when you least expect it, and planning ahead can simply give you space to focus on what matters most if it does.
We recently spoke to the wife of a self-employed business owner who had to claim on Income Protection.
What happened
It was during Covid. We went out on a cycle ride and Andrew passed out, fell backwards off the bike and hit his head. He was unconscious for a few minutes and had blood coming from his ear. At the time, I didn’t realise that was a sign of a serious head injury.
My biggest worry
Andrew wasn’t really aware of what was going on for quite some time. I had to take care of everything, with the help of our daughters and my parents. We had our own business, with staff and clients to look after, as well as everything else.
I knew we had insurance, but I couldn’t really remember what we had. You just think, what on earth is going to happen now? How will we get through this? It’s a time of complete panic both emotionally and financially.
How Income Protection helped us
Income Protection has been a godsend. It took away so much pressure at a time when you need to focus on helping your husband get well and just getting through day to day.
There are already so many health worries and you don’t want money to be another one. Things would have been so different, and far more stressful, if we hadn’t had Income Protection.
Why I would recommend it
You never think you’re going to need it. We took the policy out nearly 40 years ago, when I was pregnant and money was tight. But we thought: the NHS will look after your health but who looks after your income?
When I hear people say they don’t need insurance, it really scares me. It can happen to any of us.
A protection plan will have no cash in value at any time, It will cease at the end of the term. If premiums are not maintained, then cover will lapse, and you may not be covered if a claim is made.