Home / Protection / Income Protection
This provides income where you are ill or injured, and as a result your income through employment or your normal route stops. If Houseperson’s cover is included, then it will pay out upon illness or injury, irrespective of any income stopping.
It is designed to replace most of your net income.
Cover lasts for either a set term in whole years, or to a given age (typically your state retirement age). The amount you pay is called the premium. It can either be guaranteed not to change, or it can be reviewable. Reviewable cover normally changes based on the claims experience of the life assurance company.
When we tell you about a fee, you will always receive a clear explanation of: The total fee, the advice service it relates to, how it's been calculated, when you need to pay it and your payment options.
THE PLAN WILL HAVE NO CASH IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF PREMIUMS ARE NOT MAINTAINED, THEN COVER WILL LAPSE.
Are your fees fixed?
We offer a range of fee options, including hourly, percentage and fixed fees. Our fee is usually agreed after the initial discovery meeting and prior to any work being undertaken.
Do you get commission?
For mortgage and protection products only.
Is life insurance necessary when taking out a mortgage?
While life insurance isn’t mandatory when securing a mortgage, it’s highly recommended. It offers peace of mind, ensuring your loved ones would be financially protected if something were to happen to you. Many clients find that life insurance provides a valuable safety net, especially when taking on a long-term financial commitment like a mortgage.
At Verve Financial Limited, we can help you explore life insurance options and find the right plan that aligns with your family’s needs and lifestyle. Protecting your future has never been easier.