|  FINANCIAL
FIRST AID
It would be devastating to become ill or disabled and unable
to work. The mortgage would still need to be paid as well
as household bills. Employer ill-health benefits are only
for a limited time and state benefits are means tested. Unless
you have considerable savings it would be financially very
difficult to maintain your standard of living. Income Protection
provides cover for any health reason that stops you from being
able to work. This could be an accident like a broken arm
or a more serious illness.
The cost of cover varies according to your age, how hazardous
your employment is, your state of health and how long you
are willing to wait before any payment commences. Most people
choose a delay of six or twelve months, depending on their
available resources and/or employer support for the interim.
 Some
employee benefit schemes include some form of Sickness or
Disability Benefit as part of the package. We can calculate
how much cover this would give you to help your shortfall.
If you do not have cover through your employer, or if cover
is limited, it would be wise to purchase your own. We would
be happy to provide you with a quote based on your individual
needs.
Testimonial
Savio has been our IFA for nearly 10 years. During that time
he has taken our finances in hand and we now feel very secure.
As well as handling and advising on several mortgages and
re-mortgages he has provided clear advice on income protection,
life assurance and critical illness cover. He has helped us
to understand the NHS pension scheme which has allowed us
to calculate what we actually need to protect our family and
home. In all these fields we have been able to select products
from the better quality providers. Over the years Savio has
always been available for advice and we now regard him as
not only a source of trusted and timely information, but also
as a friend.
Dr. Michael Chilvers, Lister Hospital
Useful Factsheets
How
Much You Need – Quick Calculation Table
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Minerva Financial & Mortgage Advisers is an appointed representative of Sesame Ltd, which is authorised and regulated by the Financial
Services Authority. Sesame Ltd is entered on the FSA register
(www.fsa.gov.uk/register/) under reference 150427.
Website last changed: 27/08/2008
