Income Protection

Your income, coming in month after month, pays the bills, funds the lifestyle you are accustomed to, and ensures you are able to invest in financial planning to grow and protect your wealth.

But what would happen to your hard-earned financial interests if your regular income abruptly stopped due to illness or injury? Would you still be able to save and invest? What would happen to the wealth you’ve worked so hard for? State and employer benefits are unlikely to make up the shortfall and you could suddenly find yourself unable to cover essential outgoings (such as mortgage repayments), live comfortably or protect your financial plans.

Getting advice on income protection means safeguarding you and yours against the unexpected. After all, you can’t put a price on taking care of your loved ones in case the unthinkable happens.

What is income protection insurance?

Also called permanent health insurance, personal income protection plans are insurance policies that provide long-term protection, and ensure a regular, tax-free income should an illness or injury prevent you from working. The policies usually pay out until you return to work or retire, whichever is earlier. The amount paid out depends on the cover taken out.

Income protection services can be combined with other personal insurance products, including life insurance, life assurance and critical illness cover.

Importance of getting income protection advice from a professional

The Money Advice Service advises that it’s best to get income protection advice from an independent Financial Adviser or Broker. When it comes to income protection insurance, picking the right plan from the massive range of insurance products available will ensure you have the right policy in place to protect your financial interests should the unthinkable happen.

As an independently run firm we have our clients’ best interests at heart, and our specialist Planners will find the best personal income protection policy to suit your current financial and investment arrangements, and cover your needs at the best price.

Where can I learn more about income protection insurance plans?

Call Penguin on 02920 450143 or arrange a Discovery Meeting. The Money Advice Service is a government organisation that offers free and impartial information about income protection insurance and other personal insurance services.

The advice process

Take the stress out of organising your financial affairs and focus on living your best life with our income protection advisory service. We follow a three-step approach to all of our planning services.

Learn more about your Financial Planning journey with us



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Download this short guide for specialist insight on the importance of hiring a professional Financial Planner, including:

  • Avoiding hidden costs
  • Navigating regulation and tax efficiencies
  • …and one more hidden value

For professional advice on protecting your income from trusted advisers with your best interests at heart, arrange a Discovery Meeting with a Penguin Financial Planner in Cardiff and the local area.

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