Is There a Policy Which Combines Life Insurance and Income Protection?

Having just taken out a mortgage I am looking at my insurance options and wanted to take out Life Insurance and Income Protection. I was just wondering if there was a single policy that does both? Or do I need to look at them separately?

Question asked by Joan Arthur
31/05/2019

Combined Life and Income Protection Insurance

This is a very good question and one that gets asked quite frequently. With many individuals who take out a mortgage, they want to protect both the total outstanding debt should they pass away as well as the monthly mortgage repayments should they become too ill to work.

To do so you are correct in thinking it is a combination of Life Insurance and Income Protection.

  • Life Insurance will pay out a lump sum on death to pay off any outstanding mortgage balance.
  • Income Protection will pay out a monthly income to replace lost earnings including your mortgage if you are too ill or injured to work.

Separate Income Protection and Life Insurance is Usually Cheaper…

We did some research into this and more often than not it was more cost-effective to look at each policy independently, setting up each policy specifically for its purpose rather than a one size fits all approach.

This is very important particularly if you are a company director or in a higher risk manual occupation where there are insurers which have created products specifically for these demographics.

To find out what it would cost to protect your monthly mortgage repayments if you suffer an accident or sickness or receive a lump sum payout on death you can use our quote tools which compares pricing from all the leading UK insurers.

It is worth bearing in mind if you are self-employed, company director or have existing health conditions there are a number of insurers which may be more appropriate than those we can quote online.

If you need any help making sure you are setting up the most appropriate cover then please do not hesitate to pop us a call on 02084327333 or email help@drewberry.co.uk.

Why Speak to Us…

We started Drewberry because we were tired of being treated like a number and not getting the service we all deserve when it comes to things as important as protecting our health and our finances. Below are just a few reasons why it makes sense to let us help.

  • There is no fee for our service
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    Drewberry isn’t tied to any insurance company, so we can provide completely impartial advice to make sure you get the most appropriate policy based solely on your needs.
  • We’ve got bargaining power on our side
    This allows us to negotiate better premiums for you than you going direct yourself.
  • You’ll speak to a dedicated expert from start to finish
    You will speak to a named expert with a direct telephone and email. No more automated machines and no more being sent from pillar to post – you’ll have someone to speak to who knows you.
  • Benefit from our 5-star service
    We pride ourselves on providing a 5-star service, as can be seen from our 3782 and growing independent client reviews rating us at 4.92 / 5.
  • Gain the protection of regulated advice
    You are protected. Where we provide a regulated advice service we are responsible for the policy we set-up for you. Doing it yourself or going direct to an insurer won’t provide this protection, so you won’t benefit from these securities.
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    You have support should you need to make a claim. The most important thing when it comes to insurance is that claims are paid and quickly. We are here to support you during the claims process and make sure it’s as smooth and stress free as possible.

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