Income Protection

Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.
The Financial Conduct Authority (FCA) does not regulate some forms of Buy To Let mortgages.
We offer the option to pay for our mortgage services by a fee. 

Parkway Financial Solutions is a trading style of Parkway Mortgages Ltd, an Appointed Representative of The Right Mortgage Ltd, which is authorised and regulated by the Financial Conduct Authority.
No fee on insurance products and £495 fee mortgage mortgages paid on offer.

Parkway Mortgages Ltd is registered in England & Wales, company registration number 6748364.
Registered Office: 78 Castle Lane West, Bournemouth, Dorset, BH9 3JU.
The information contained in this website is subject to UK regulatory regime and is therefore intended for consumers based in the UK

Copyright © 2024 Parkway Financial Solutions

Download your free guide.
It will explain:

• Understanding Income Protection Insurance
• How Income Protection Works
• Choosing the Right Level of Cover
• Short-Term vs. Long-Term Cover
• Deferred Periods Explained
• Policy Definitions & Incapacity
• Key Exclusions & Limitations
• Income Protection vs. Critical Illness Cover
• Tailoring a Policy to Your Needs
  
• And More...

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Should I take out Income Protection?

Income Protection Insurance is a crucial safety net designed to provide financial stability if you're unable to work due to illness or injury. Unlike other insurance types, it ensures a regular income if you're incapacitated, helping you cover essential expenses such as your mortgage, rent, bills, and daily living costs.

This coverage typically provides a percentage of your income (usually between 50% and 70%) until you're able to return to work, retire, or reach the end of your policy term. It's especially valuable in offering long-term financial support, tailored to your specific needs and lifestyle.

At Parkway Financial Solutions, our expert advisers specialise in Income Protection Insurance. We’re here to help you select the right policy that fits your circumstances, ensuring that you have the protection you need without paying for unnecessary extras.

Why Choose Parkway Financial Solutions?

Do these questions sound familiar?

• What exactly does Income Protection Insurance cover?
• What types of illnesses or injuries are not covered?
• How much of my income should I protect?
• Do I really need Income Protection Insurance?
• How long should my coverage last?
• Can my policy adapt to changes in my employment or lifestyle?
• How much will Income Protection Insurance cost me?
  

We are here to answer them

At Parkway Financial Solutions, we’re committed to delivering a friendly, jargon-free experience tailored to each of our clients. Our priority is to go above and beyond to meet your individual needs.

We understand that insurance is deeply personal. With our extensive experience, we've seen every aspect of the buyer’s journey and have honed our approach to offer an exceptional, personalised experience. Unlike large companies that treat you as just another client, we take a different approach.

We provide a bespoke service that considers your unique circumstances and needs. With Parkway Financial Solutions, you’ll have dedicated professionals by your side every step of the way, alleviating stress and giving you valuable time back.

Our hands-on, personalised approach allows us to speak directly with underwriters, securing coverage where others might not even try. This means we can offer you tailored advice on the right policies and coverage—where larger companies might fall short.

How do I know which insurance provider and Income Protection policy is right for me?

Choosing the right Income Protection Insurance provider and policy depends on your specific situation and budget. The best provider for you can vary based on several factors, including your occupation, health status, and financial needs. It’s crucial to understand that the comprehensiveness of a policy isn’t always reflected in the premium. While one provider might impose exclusions or increase premiums due to existing conditions, another might offer more favorable terms. Comparing policies and seeking expert advice can help you find the most suitable coverage.

What can the monthly payments be used for?

The monthly payments from an Income Protection claim can be used flexibly, according to your needs and priorities. Here are some common uses:

• Covering your mortgage or rent payments
• Paying off outstanding loans or debts
• Managing household bills and daily living expenses
• Covering medical treatment or rehabilitation costs
• Ensuring financial stability for your family during your recovery period