How long would you survive on your savings?
A recent study from Shelter revealed that more than a third of families (37%)1 in England could not afford to pay housing costs for more than one month if they lost their income and 23% of working families would be unable to pay housing costs at all.
For some families, losing income and having to rely on savings means losing your home could become a real possibility.
Income Protection is important whether you rent your home or have a mortgage. If you get ill, lose your job or have your hours cut how will you pay your rent and utilities? Do you have enough savings to pay your bills while you find another job or recover from an illness?
Income Protection isn’t just about protecting your income. It also protects your home and livelihood so you can focus on finding a new job or getting better instead of where you will sleep tonight or if they will eat today.
Source:
1. https://www.theguardian.com/money/2016/aug/09/england-one-in-three-families-one-months-pay-losing-homes-shelter-study
Lifetime Finance Group Limited trading as Aberdeen Mortgage Company is an appointed representative of PRIMIS Mortgage Network, a trading name of First Complete Limited, which is authorised and regulated by the Financial Conduct Authority for mortgages, protection insurance and general insurance products. The Financial Conduct Authority does not regulate some forms of Buy to Let. Lifetime Finance Group Limited.
