You've worked hard to get where you are. But just how secure is your lifestyle? If you can't work due to incapacity due to injury or an illness that results in a loss of earnings, would you be able to cover your monthly living costs?
Although many people think 'It'll never happen to me', illnesses and accidents can happen to anybody. Statutory sick pay is only £88.45 a week*, so unless that's enough for you to live on, you'd soon be drawing on your savings or struggling with the bills.
The good news is, Income Protection Benefit can give you a safety net as it can pay out a tax-free monthly benefit until you're well enough to get back to work, until your chosen retirement age or the end of the plan, if you do not recover. It could help look after your regular financial commitments such as bills, mortgage and your standard of living.
This is not a savings or investment product and has no cash value unless a valid claim is made.
* correct as at October 2015