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The importance of...

12 July 2016

1 min read

The importance of having income protection in place

Illness and trauma can strike at anytime.

Victoria Rutland
Victoria Rutland,

Chartered Financial Planner

James worked as a cameraman and had a modest income of £30,000 p.a. Shortly after his 40th birthday he was taken ill at work and was found to have had a blood clot which had moved to his brain. Whilst the medical team were able to disperse this damage had been done and he is now confined to a wheelchair. His reduced mobility meant that he could no longer work and the studio he worked for had to let him go. His doctors advised him that provided he maintains a healthy diet he should still expect to live well into his 90s like his parents.

Unable to earn money, James quickly ran through his emergency fund. He had previously taken out an Income Protection policy and rang the claims line shortly after leaving hospital. His plan started paying out after three months and the payments of £1,250 p.m. (the level of cover he took out) mean that he could afford to keep paying his bills and mortgage.

If James had not taken out this policy he could have lost his home and struggled to make ends meet at a very stressful time of his life.

Victoria Rutland

Victoria Rutland


Chartered Financial Planner

Victoria has worked in Financial Services for a number of years and joined EQ in 2014. She provides advice on all areas of financial planning with a speciality in retirement planning. Victoria is a Chartered Financial Planner and also holds the Certificate in Long Term Care Assurance. Away from the office, Victoria enjoys travelling and baking an array of goodies.

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