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Get peace of mind with Rainy Days Insurance

Section: Finances
Get peace of mind with Rainy Day Insurance

With a baby on the way or already with you, you have a million and one things on your mind such as decorating a nursery, what to buy for them, how to feed them, actually giving birth and the countless sleepless nights that lie ahead. However, it’s an opportune time to take five minutes out of your busy day, sit down, grab a cup of tea and think about your finances.

Small sacrifices, such as swapping your monthly night out for life insurance, and a new outfit changing places with a will, are important when you have someone else to care about other than you and your partner. Thinking about the bigger picture is equally important; what if you fall sick, or are no longer around. Or, alternatively, if you lose your job and are left caring for a child with little or no income.

While one of you is on maternity/paternity leave, you’ll be relying on one salary. So what if you didn’t have that? One million people fall ill every year and suddenly can’t work, findings reported in the Association of British Insurers ‘September 2014 paper, Welfare Reform for the 21st Century (The role of income protection insurance). What would happen if you fell ill?  Could you afford to pay your rent/mortgage and bills? Some people have savings and their family to fall back on when things get tough. However what if these simply weren’t viable options. This is where income protection comes in handy.

Income protection is an insurance you get that protects you against sickness, accident and redundancy. So if you take out a policy and are working then suddenly fall ill, have an accident or are made redundant and can’t work, you’ll be protected.

You’ll pay a small amount of money each month, which you get to choose, and then if something doesn’t quite go to plan and you are unable to work, you’ll receive a monthly benefit paid into your bank account. It’s a good safety net to have in case you’re faced with life’s obstacles.

The cost varies on a case by case basis. With Rainy Days Insurance the cost can vary from £6.95 a month up to £56. That’s less than a lunch out or a new dress and will be an expense that will come in much more useful should you need a helping hand later on in life. The more you want/think you’ll need, the greater it costs. The Rainy Days team have calculated that if you were to put the same amount of money aside on your own terms it would take you about forty years to get the same benefit you would receive from Rainy Days Insurance.

Of course, with any insurance, there are exclusions, limitations and people that can’t be covered. However there are lots of positive reasons to take out income protection insurance if we can cover you - such as peace of mind, security and support if a rainy day comes your way. Find out more at

Get peace of mind with Rainy Day Insurance

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