Income Protection Insurance

income when you cannot work

Expert Insurance Advice

Do you want peace of mind knowing that if you fall ill you can pay your bills? An Income Protection Insurance can deliver just that, with options to cover a variety of needs. Income protection is a long-term insurance that will pay out monthly benefit in case you lose your income, due to illness or injury. It will replace part of your income (usually 60-70%) and pay out until you are fit to go back to work or retire.

Accident and Sickness Cover

Accident, Sickness and Unemployment Cover

Long-Term Income Protection

What is Income protection insurance?

Income protection is insurance that provides monthly income for a specified period usually in case of illness or injury. Income protection offers security in case of an illness that might not be critical but would stop you from going to work for a prolonged time. State benefits are available for people out of work, but is this enough?

What are the different types of Income protection insurance policies?

There are several types of policies available.

Critical illness insurance

Benefits of Income Protection policy

Do I need income protection insurance?

If you suddenly become ill or you injure yourself, your employer will start paying your sick pay. How much of your salary they pay will depend on your employment contract. Some companies offer up to 12 months full pay, some will start paying Statutory Sick Pay as soon as they can. The Statutory Sick Pay is £109.40 per week, can be paid after only four days off sick and can last up to 28 weeks.

There might be other benefits available for you to claim, so please check the Government website for details.

“It will never happen to me!”

Cancer, mental illness or coronavirus will not discriminate. The research in the UK states that 1 in 2 people will develop some sort of cancer in their lifetime (source NHS). In the UK, the 4 most common types of cancer are:

  • Breast cancer
  • Lung cancer
  • Prostate cancer
  • Bowel cancer

Most of us has been affected by cancer, through family or friends, and know how devastating this illness can be. It can happen to the healthiest people with no family history, at any time. While many people nowadays survive cancer, they will still be unable to work for a prolonged time. What would happen to your finances if you fall ill and are not able to work? How long will your savings last?

Is it a time to talk about an income protection policy that you can afford and would suit your needs in case of the unthinkable?

Ask yourself:

What if you don’t have a critical illness, but suffer from long-term sickness or a disability that prevents you from working?

How quickly would you have to fall back on state benefits? And would they be enough?

How long would your finances last if this happened to you?

How long would your employer continue to pay you?

Book your free consultation today

Exiting the Site

You are leaving the site and we cannot be held responsible for the content on the external websites.