PROTECTION
When you’re ill or injured and can’t work, the last thing you need to worry about is paying the bills.
For a lot of us, the idea of being unable to work comes with a serious question of finance.
Income protection insurance gives you peace of mind. By having this policy in place, it means you’ll be paid a proportion of your income if you can’t work due to sickness or disability, and continues until you return to paid work or you retire.
It gives you the time to concentrate on looking after your health and stop worrying about making ends meet.
What’s the difference between Income Protection and Critical Illness?
Income Protection pays out a percentage of your salary on a monthly basis if you are unable to work. Critical illness cover pays out a lump sum upon diagnosis. It’s a tax-free, one-off payment that’s designed to help pay for any treatment or your mortgage/rent.
Income Protection
You can choose between short term cover, from 12 to 24 months or long- term accident and sickness cover, and keep receiving payments until you retire.
You’ll need to be working a minimum of 16 hours per week to qualify. We can talk you through the various options and ensure you receive the cover that’s tailored for your personal situation.
Income Protection Policies do not just support you by paying a monthly benefit should you be unable to work; providers also provide additional support which can range from 24/7 access to virtual GPs, rehabilitation support services, back to work support, annual health checks and second medical opinions.
Benefits of Income Protection
- You’re able to take home more than you’d receive on state benefits
- It’ll cover your mortgage so your home is safe
- It eases financial strain so you can concentrate on getting better
- You’re able to maintain your family’s lifestyle (as much as possible)
- It can supplement your employer benefits. If your employer’s sick leave or short-term disability benefits are limited, IP can provide additional support ensuring a more comprehensive safety net
- It’s particularly beneficial if you’re self-employed and don’t have access to employer-provided sick leave or disability benefits
Why choose us?
We understand personal protection and how confusing all the options can be.
We listen to your situation with empathy, and search hundreds of insurers to find the right cover to fit your needs at a cost you can afford. We always have your best interests at heart and make finding insurance cover as painless and cost effective as possible.
Important Information
Income protection insurance is designed to provide a regular income if you are unable to work due to illness or injury. However, it is not suitable for everyone and will depend on your individual circumstances.
Policies include specific terms, conditions, and exclusions, which may limit when and how benefits are paid. Not all medical conditions or situations are covered, and claims are subject to insurer acceptance. A deferred period will usually apply before any benefit is paid.
The amount of benefit you receive may not fully replace your income and could affect your eligibility for certain state benefits. Premiums must be maintained to keep cover in place and may increase over time depending on the type of policy selected.
Tax treatment depends on individual circumstances and may change in the future.
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