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What if your income stream suddenly came to a halt due to illness or an accident? Could you maintain your current lifestyle and meet all your financial commitments? In our latest episode, we invite Tony Hammond, a certified financial advisor and business protection specialist, to shed light on these critical questions. Tony navigates us through the world of income protection insurance, its tax benefits, and how it serves as a financial lifeline in times of crisis. He vividly illustrates the four cornerstones of business protection - debt, profits, ownership, and family - painting a picture of its importance as an 'accident and sickness insurance' and 'furlough scheme' that is often overlooked.

We dive deeper into the intricacies of income protection, emphasizing that it isn't limited to a particular industry. Tony stresses the importance of consistent policy reviews to uphold its relevance to your current situation and provides insights into the unique benefits it offers, such as 24/7 access to a GP and second opinion services. In a pivot towards dentistry, Tony explains the specific considerations for dentists when it comes to income protection, including UDAs, health injuries, and physical fitness. We also touch on the vital decisions surrounding the right deferred period for your policy and how to circumvent potential pitfalls. Join us for an enlightening discussion that could change how you think about your income and its protection.

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Disclaimer: All content on this channel is for education purposes only and does not constitute an investment recommendation or individual financial advice. For that, you should speak to a regulated, independent professional. The value of investments and the income from them can go down as well as up, so you may get back less than you invest. The views expressed on this channel may no longer be current. The information provided is not a personal recommendation for any particular investment. Tax treatment depends on individual circumstances and all tax rules may change in the future. If you are unsure about the suitability of an investment, you should speak to a regulated, independent professional.

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86. Lær at tænke lige så godt som Svend – med professor Svend Brinkmann