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Short-term income protection

If you can no longer work due to a short illness, injury or redundancy, it's good to know that you'll be financially covered. Our short-term income insurance protection does just that. Consider your options with guidance and support from Beechwood Mortgages, Reading.

Cover that helps you over a bad patch

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SHORT-TERM PROTECTION

Though you may only be out of work for a short while, protecting your income is imperative.

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COVER FOR THE SELF-EMPLOYED

If you run your own business, we can help you find the most suitable plan to offer support if you’re unable to work as a result of injury, accident or unemployment.

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COMPETITIVE
QUOTES

We can help you access a number of short-term income protection options from a range of providers.

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TAILORED TO
YOU

You'll always get a personalised service based on your specific needs. What's more, we'll do all the paperwork for you.

Understanding short-term income protection

Similar to standard income protection, short-term income insurance will cover you in the event of redundancy or a small injury that has deemed you unable to work. The main difference is that this type of cover will only offer protection for a fixed amount of time, depending on your policy. This may be ideal for anyone on a monthly wage who will be out of work for a short period, such as a few months.

 

If you’re receiving statutory sick pay whilst you’re off, this level of protection will cover any outgoings that your reduced income is unable to, ensuring your bills, mortgage and other expenditures are covered.

What are the benefits?

Short-term income protection will offer you financial support when you’re unable to work. It goes much further than statutory sick pay, for example it will provide you with a monthly benefit until you return to work or for an agreed period, usually a maximum of two years.

How is it useful?

Insurance for income protection is particularly useful if: •You don’t have any savings •You run your own business •You have minimal sick pay entitlement with your employer It’s important to remember there is often a period between when you stop working and when you start receiving payments.

What isn’t covered?

Some scenarios will not be covered by these policies, they include: •Pre-existing health conditions or illnesses •Self-inflicted injuries •Voluntary redundancy •Seasonal unemployment

  • Do all mortgage brokers charge fees?
    No, not all mortgage brokers charge fees, and Beechwood Mortgages is proud to be offering fee-free mortgage services to first time buyers in 2024. (terms & conditions apply) As a mortgage broker, we earn our commission from the lender, so in most cases you don't have to worry about paying any additional fees for our assistance. We are committed to helping you find the best mortgage deal without adding any financial burden. Our goal is to make the mortgage process as transparent and cost-effective as possible for our clients. Check out our full fat version Do All Mortgage Brokers Charge Fees? for a complete rundown on broker fees and what to look out for.
  • What does a mortgage adviser do?
    A mortgage advisor will do the leg work for you, offering in-depth knowledge of the property lending market, helping you overcome challenges, and offering exclusive access to a database of banks and building societies. What's more, they offer a level of support that streamlines the entire process and makes things easier for you. You can learn more by visiting our page Why Should I Use A Mortgage Broker?
  • How can I get the best mortgage advice?
    You can seek advice on mortgages directly from lenders such as banks or building societies. Alternatively, you can go to a whole of market mortgage advisor or broker who will search and compare numerous products at the touch of a button. Check out Why Should I Use A Mortgage Broker? for more information.
  • Is mortgage advice free?
    The cost of mortgage advice depends on the terms and conditions of the broker / adviser you are working with. Many mortgage brokers will charge for their services and the amount payable will usually depend on your requirements, their own workload and perhaps on the value of your mortgage. We offer a free consultation every time and will quickly confirm if there will be any charge for our services and support. In the majority of cases, we will receive a commission from the lender once a mortgage starts. It’s important for you to clarify terms and conditions with mortgage advisers from the start so that you are aware of any charges and financial responsibilities you may incur. Check our Fees page for a full rundown on broker fees. You can also visit our page Do All Mortgage Brokers Charge Fees? for further information.
  • Do banks charge for mortgage advice?
    No, banks will not charge an advice fee. You do however need to remember that they will only recommend their own specific products. All lenders charge varying fees and this will be no different if you work with a mortgage broker. Whole of market mortgage advisors / brokers are more likely to provide an impartial perspective on the most suitable and competitive mortgage products and via a huge variety of lenders. Some brokers will charge a fee, for more helpful hints and tips, check out our article, Do All Mortgage Brokers Charge Fees?
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Not sure which policy is best suited to you?

Beechwood Mortgages is here to help. Contact our office in Reading to learn more about how we help clients across Berkshire and beyond.

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