Education and quote comparisons help ensure no one is left vulnerable to income loss, publishes claybrooke.org.uk
Cardiff, Wales -- (SBWIRE) -- 01/11/2016 -- Though jobless rates across the United Kingdom reached a seven-year low of 5.4 percent in 2015, reports from the Association of British Insurers reveal an uptick in the number of individuals losing income due to injuries and illnesses. An estimated one million people each year endure job-related absences for durations of at least one month while another 250,000 are rendered unable to work altogether. Numerous families are left to struggle both emotionally and financially in the wake of this surge.
In light of the current income loss epidemic, spokesperson Kate Reid has announced the launch of the Claybrooke income protection cover website. Said Reid, "Previous unemployment rates, along with growing numbers of injuries and debilitating medical conditions, were primary driving factors behind the development of Income Protection Insurance. Our new website provides education about this type of cover while also acting as a comparison portal to help viewers find the best providers and policies for their individual needs."
Educators are among those most commonly affected by temporary incapacity. Despite typically being held to low levels of physical demands, members of this profession are at elevated risks for depression, anxiety and other stress-related conditions. Though teachers are granted paid leaves of absence, the duration and amount of financial compensation offered tends to fluctuate with stringent eligibility requirements in place. The claybrooke teachers income protection portion of the new website emphasizes exercising caution when comparing terms and conditions applying to policies of this nature as incapacity considerations vary by provider.
Those who oversee a company, whether alone or as a member of a team, are eligible for a few different options. While income protection for uk directors is available in a self-funded format, employer-financed versions are additionally offered. Each holds its own benefits and disadvantages with taxability being a primary concern among policy holders. Executive Income Protection geared toward company directors covers higher salary percentages than its counterparts.
Reid concluded, "Most people in our area have only a couple weeks' wages in their savings at best, so being unable to work for as little as a month could be devastating. Even though our job market has shown significant improvement over the last year, no one is completely invulnerable to lay-off or an employer going belly-up. Income protection insurance is readily available and could be an effective lifeline in a worst-case scenario. Our goal is to ensure no one is left susceptible to financial downfall in the event of income loss."
About Claybrooke Life Insurance
An independently operated firm, Claybrooke Life Insurance provides complimentary unbiased insurance quote comparisons as well as a range of policies from top U.K. providers for life, income protection and critical illness cover.