Wells Financial Newsletter Summer 2011

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Summer 2011

Covering your income Income protection is an insurance policy that provides you with an income if you are unable to work as a result of accident or illness. Most policies will then pay a regular monthly amount until you have made a full recovery, until retirement age, for a fixed term - or death if earlier. Income protection can be useful as a supplement to state benefits, as these generally prove insufficient to maintain the lifestyle you are able to enjoy on your current earnings. It is traditionally used to cover your salary and the maximum amount you can insure for will enable you to broadly match the after-tax earnings you would otherwise lose.

Welcome to the latest edition of our newsletter, our update on developments in the

Costs vary depending on your circumstances, your medical history, the time for which you defer payments but also on the provider. The more you are covered for, the higher the

world of financial services.

premium. However, cheaper is not necessarily better and therefore, as with all forms of insurance and protection, it is imperative you read the small print on your income protection policy to ensure you know what is covered.

If you have any questions about the issues raised in this

Finally, it is also essential that you are open about any previous medical conditions, regardless of whether or not you think they are significant. Non-disclosure remains one of the most common reasons for claims being declined by providers and will probably only

issue, please do not hesitate to contact us.

arise right at the moment you most need the money. Financial advice is therefore highly recommended to help ensure you find the plan most suitable for you.

Contact Us:

Getting on the ladder Despite house prices falling recently, they are still very high in terms of affordability. So, does it make sense to sit on the fence in the hope that they will fall further or do you get on and get in to somewhere you can afford now? For those who have held off buying in the hope of a tumble, it has proved a long wait. Coupled with this, the credit crunch means getting a mortgage for those needing higher income multiples or high loans-to-value is harder than it was. However, what these limitations do ensure is that those who might once have overstretched themselves are now prevented from doing so which will perhaps help to make prices more affordable for everyone as the market settles down.

Wells Financial,Christ Church Centre, High Street, Tunbridge Wells, Kent, TN1 1UT. Tel: 01892 515171


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Wells Financial Newsletter Summer 2011 by Wells Financial - Issuu