PROTECT YOUR INVESTMENT
If you’re a highly skilled dental, medical or veterinary professional, you’ve invested a significant amount of time, effort and money, to achieve that status. Having worked hard to put yourself in this position, you’re entitled to look forward to the return on your investment, the plans for a lifestyle and rewards that come from a well-paid occupation but beware.....
THE POTENTIAL RISK
The foundation on which your future plans and dreams are built, is your income. If you’re unable to work for physical or mental health reasons, you could lose your income and the future you worked so hard for. Human instinct is, “it won’t happen to me”, so we badly underestimate the risks.
LIFESTYLE PROTECTION
Income protection can replace up to 88%* of your post-tax income, if you can’t do your job, for ANY health reason, physical or mental. It’s the most comprehensive way to financially protect your lifestyle but if you already have income protection, you’ve probably been told this before.
Consumer group which say:
It's the one protection product every working UK adult should consider.
60% of income protection claims are for accidents, musculo-skeletal problems or psychological illness, which aren’t covered by critical illness policies, so it’s the most comprehensive illness cover there is but it’s a complex product, so 5 insurers only make it available via advisers. Choose your adviser very carefully, as the wrong advice can really cost you.
WHY USE MEDIDENT FS?
We have the expertise to really understand the policy fine-print, and the integrity to tell you everything you need to know. For instance, did you know, the actual cost of income protection will almost certainly be, much higher than shown on all insurer illustrations, maybe more than DOUBLE (unless the cost of living miraculously stops increasing), with the exception of Zurich or Holloway FS, so if you don’t have a policy with either of them, Keep Reading…
The devil is in the detail (and we do detail)
With insurance, the devil really is in the detail. What looks like the best premium could actually cost much more than an alternative policy, due to the different formulae insurers use when applying the annual, cost of living cover increases, illustrated below.
Premium changes based on 2.8% annual cover increase.
Insurer illustrations tend to be rather.... Optimistic
The total cost on insurer illustrations typically ignore the cost of matching increasing living costs, though Holloway is an exception, so despite being the lowest cost of these three examples in the real world, the full term cost on the illustrations show this.
£40,573.22
Holloway assume a cost of living increase of 2.5%, which is stated on the quote and is close to historical rates.
£24,000.00
L & G's illustration assumes the level of cover does not change, despite the policy being set up as increasing cover.
£24,000.00
Vitality's illustration assumes there will be no cost of living increase, with no hint the total cost would be higher.
Review your income protection policy with MediDent FS and you qualify for two free standard wills, so find out how much you can save and tick that will off your to do list. Just book an appointment at a time that’s best for you.
OTHER INSURANCE FROM MEDIDENT FS
Some of the other insurances we can advise on
LIFE INSURANCE
It makes sense to pay off significant debts, such as a mortgage but don’t forget to consider replacing the income that is lost on death
CRITICAL ILLNESS COVER
If you want the peace of mind of paying off your major debts if you suffer a serious illness, this type of cover should be considered
HEALTH INSURANCE
With post COVID NHS waiting lists at record levels, it’s value has never been greater, if you need a fast return to health and work
BUSINESS INSURANCE
We can advise on needs for key person, loan protection and shareholder protection, if you’re one of the business owners
SOME OF OUR INSURERS
Not sure what you need?
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