Income Protection Insurance UK: Protect Up to 65% of Your Salary
When it comes to protecting you and your family's lifestyle, income protection is the answer.
Taking into consideration our current lifestyles it’s not surprising really to get diagnosed with a serious or critical illness even when you’re in your 30s.
Fortunately there’re ways to prepare yourselves to deal with such a situation.
An income protection policy simply secures a part of your income and protects you and your family against any unexpected eventualities including illnesses and injuries. It gives you:
- Tax free monthly income till the time you’re not medically fit to work
- The freedom to live an adventurous life without having to worry about the money
- Peace of mind that you don’t have to worry about saving money for the rainy day
- The choice of how much you’d like to receive as monthly income and for how long
Key Features
Covers you for even for injuries that are not serious in nature
Pays out a tax free monthly income to you
The cover can start after the 1st week of illness or injury
Can pay you up to 65% of your total monthly salary
No fees. No obligation. No hidden charges
Whole-of-market access allows the advisers on our panel to compare suitable policies and recommend cover based on your individual needs, circumstances and budget.
Why do I need Income Protection?
Your likelihood of getting injured or developing a condition that could prevent you from working is a lot higher than dying before the age of 70.
Taking care of your family is a big responsibility to shoulder especially when you’re the only breadwinner in the household. Hence you’re salary obviously is something you look forward to each month. But when the income stops suddenly due to an unexpected illness or injury you probably turn to your savings if you do have it in place but wouldn’t that eat into your savings?
The impact it’s going to have on your lifestyle is something a lot of people tend to underestimate.
Income protection is highly advisable if:
- If you’re the only or main income in the family
- You have dependants
- You have financial commitments like mortgages or loans that you don’t want your loved ones to deal with
- You don’t have enough savings in place to help you carry on living the same lifestyle in the event of an accident or illness
What is income protection?
IP is a policy that pays out a tax-free monthly income to you if you’re not able to continue working due to an unexpected illness or injury. The money can be used to take care of your monthly expenses, medical bills, etc., and help your loved ones carry on living the same lifestyle while you’re trying to recover.
This cover offers complete peace of mind knowing that if any such thing ever happens at least you have some financial assistance at your disposal.
How does Income Protection work?
In case you’re not able to continue working due to an illness or accident the policy pays out the amount you’re covered for each month until you’re back at your feet again or right until your retirement age depending upon the type of plan you have.
It is important though to get an advice on which option or plan suits you the most and we work with some of best and fully qualified protection advisers who can help you decide which route you want to take by giving you an impartial advice on which option fits your needs.
Once you fill in the form we connect you with an adviser (who’s authorised & regulated by the FCA) to work on your options and prepare a personalised recommendation based on your requirements, circumstances and budget.
Once you’ve chosen the provider based on the benefits they’re able to offer or the number of conditions they can cover you for and you’re happy with the premiums quoted, your policy would start from day one upon acceptance. From that point on and during the chosen term of the policy if you ever suffer an illness or injury that renders you medically unfit to work for a period of time, the policy would then kick in and start paying you out a monthly income as per your policy terms.
Already have an Income Protection?
Call us today to:
- Get your policy reviewed to ensure it’s the best policy for your needs
- Ensure your policy has been set up correctly
- Find out if your policy is still up to date with your current circumstances
- Make sure you’re adequately covered and that you’re not paying over the odds
Did you know:
Solutions: all your questions answered
An income protection policy can ensure we continue to get tax free income in the event of us not being able to work.
Buy an income protection today to mitigate the risk of losing your house when the income stops coming in.
Sorting out an income protection policy will take away the stress of having to pay your bills when you’re off work.