Income Protection – Homeowners Need Cover

The credit crunch may be causing huge anxiety and stress for many. And the fact that we could lose our jobs and homes is reason enough to raise the blood pressure. Income protection offers some antidote to the anxiety of being unable to work for whatever reason. In fact, insuring and safeguarding what we have are sensible steps - if you haven't already battened down your financial hatches and made sure your income protection is safely in place, it's time to take a long hard luck at your finances - and your approach to money.

Income Protection - Battening Down the Financial Hatches

Writing in the Guardian newspaper, psychologist Oliver James argues that by reassessing our needs and wants, the credit crunch could in fact make us happier in the long run. It may seem a bizarre concept, but if you have the basics in life and those basics are protected with the right insurance such as income protection, you don't need the luxuries that supposedly make us feel happier in life. Income protection means you will always be able to keep a roof over your and your family's head, put food on the table and meet basic needs. Even if you can't work because of an illness or accident, income protection gives you peace of mind. But all too often people don't think about securing what they have as they are too busy accumulating.

But do you Really Need it?

Oliver James argues that our hunger to consume and shop is making us ill. He believes the credit crunch is forcing us to reassess what is important to our lives. And the fact sales of insurance policies such as income protection have soared illustrates that more of us are thinking about safeguarding what we have rather than investing in non necessities. Sticking to the essentials means looking after are health and emotional well being. Income protection provides peace of mind for many workers worried the crunch may impact heavily on their futures. And as Oliver James states, getting antibiotics for a sick child is a necessity, buying a latte or widescreen TV is not. Curbing our desires will make more us us, he believes, focus on our needs - the effect will be that we are more focused on being rather than on having. James says the obsession with materialism makes us more vulnerable to mental illness. Income protection or health insurance is about protecting what really matters to our well being. During the credit crunch, it's time to prioritise. As James writes: "Pursuing wants rather than needs is very bad for mental health. It creates an inner emptiness, a constant hunger for more."

Looking for Income Protection? Speak to The Insurance Service

The Insurance Service's ethos is that it strives to provide fair insurance policies in an industry dominated by a small number of major providers and decided to give more choice to those seeking insurance policies. To find out more about the health insurance and income protection policies available from The Insurance Shervice, just call 0845 053 3404 or fill in the online enquiry form.

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