Income Protection

What is Income Protection?

Your income is probably your most important asset. Income Protection provides you with a replacement income if you are unable to work due to a serious illness, injury or an accident.

It can ensure your lifestyle doesn’t have to change if illness strikes and it can be used to pay your bills and living expenses until you are able to return to work, or if not, until your retirement age.

Why do you need it?

It provides you with a replacement income if you cannot work due to an illness or injury.
It is especially important for those who are self-employed and who are not entitled to employee or state benefits.
Pay you up to 75% of your current earnings, to age 70
It protects you only in these circumstances – it will not be paid if you become unemployed. You must keep up your payments to stay on cover.
Replace your monthly income from one of the following deferral periods 4, 8, 13, 26, or 52 weeks following an illness or accident (choosen at the commencement of the policy)
Ensures you continue to meet your monthly mortgage repayments, household bills and any other financial commitments.
Helps you maintian your current standard of living.
Many more optional benfits available on these plans................

Tax relief is currently available on income protection premiums paid. This can reduce the cost of your cover by up to 40% assuming you pay income tax at the higher rate.