Useful content & tools. Or ask Unum & Income Protection related questions.
What is Income Protection & why do I need it?
In a nutshell, Income Protection protects your income. If you’re off work long-term because of illness or injury, Income Protection replaces a significant portion of your monthly paycheque.
Now it doesn’t replace your full salary, but certainly more than if you were just relying on benefits. You see on average, if you’re off work ill or injured, your company is only likely to keep paying your salary for 6 months, and soon that won’t leave much to get by on.
What is Income Protection & why do I need it?
The easiest way is to ask your employer...
...It’s not as scary as it sounds and we can help with how to go about it. How long the cover lasts and how much of your salary you receive will depend on their policy, but with 11% of people in their working life having to take 6 months or more off work due to illness or injury, it’s worth thinking about.
What is Income Protection & why do I need it?
First things first...
...before having a conversation about Income Protection, find out which benefits you already have (if in doubt, ask HR). Then you can decide the best benefit mix for you and approach your employer to discuss how you might achieve this.
If you have flexible benefit options, sometimes it’s worth reducing the level of one benefit in order to ensure you’re covered for other eventualities too.
...which benefits you currently have, you need to find the right person to talk to about getting Income Protection (it’s probably HR, or could be your Office Manager or MD). And we’ve got a few tools that can help with what to say and when to say it.