Income Protection

Reason’s why people buy income protection insurance cover (monthly benefit, Illness or injury)
Could you live on £96.36 per week? If not think about a protection policy.
You can get £96.35 per week Statutory Sick Pay (SSP) if you’re too ill to work. It’s paid by your employer for up to 28 weeks.

Replace income – to help replace the loss of an income.
Reassuring - covers up to 65% of your wages.
Flexible – you can choose the benefit period, benefit and deferred period.
Maintain the lifestyle – so that families don’t suffer from losing an income.

Income Protection Insurance

It's when you need to make a claim that you realise just how wise investing in health and medical insurance can be.

If you're unable to work because of illness or injury, Income Protection Insurance is designed to provide you with a regular tax-free monthly income.

The maximum amount of income you can replace through insurance is broadly the after-tax earnings you have lost, less an adjustment for state benefits you can claim. As with all insurance, it is important that you have a policy that provides the cover that suits your individual needs.

Long-term income repayment policies usually come into play between the time when your employer stops paying sick pay and when you collect your pension.

Shorter-term policies tend to be used to protect a mortgage, bank loan or other payment. These usually commence within a few weeks but stop entirely after 12 months or 24 months. Short-term policies often include unemployment and redundancy, unlike longer-term income protection cover, which does not.

To clarify, Income Protection Insurance only applies to products that pay you an income if you become unable to work due to sickness or injury.

We will happily explain this to you in more detail.