Income Protection Insurance
What you need to know
Let’s start with understanding some of the basic terms and considerations so you can make an informed decision.
Income Protection Insurance is designed to pay out a monthly income if you are unable to work due to having an accident or becoming sick.
If you are going to take months to heal, your rent, mortgage or bills will still keep coming in.
There are different types of occupation you can be covered for. So the policy can cover you for “own occupation” or “any occupation” and there are a few more. We can help you choose which one is best for you.
It would be handy to know that you have something in place to cover an unexpected injury.
A policy like this would be able to pay you until you return to work, no matter how long that took.
What is Income Protection Insurance?
This is designed to pay out a monthly income if you are unable to work due to having an accident or becoming sick.
If you are going to take months to heal, your rent, mortgage or bills will still keep coming in.
It would be handy to know that you have something in place to cover an unexpected injury.
A policy like this would be able to pay you until you return to work, no matter how long that took.
If you are unable to work due to accident or sickness you will receive a monthly income for a defined period, typically for the payout period you chose when you set up the policy. This payout period can range from 1, 2 or 5 years or even the full term of the policy you have taken. The longer the pay out period the more expensive the premium but it could pay dividends in the long run.
There are different types of occupation you can be covered for. So the policy can cover you for “own occupation” or “any occupation” and there are a few more. We can help you choose which one is best for you.
It's worth having a chat!
We know it gets confusing!
That is exactly why we’re here to explain your options and how to make it work for you!
....so, in a nutshell...
Income Protection keeps the wheels turning
Income Protection will help you keep paying your bills whilst you recover from your illness or injury.
Click below for more info!
Keeping life balanced
Falling behind only a couple of months of bills and payments can be difficult to recover from; anything from a broken foot during the weekend to an unexpected illness can keep you from bringing in a couple months of income.
Thankfully, income protection policies are simple to obtain and will keep the wolf from the door in times of hardship due to illness and sickness.
Decide on the cover that suits you
There are different types of cover under this policy which can cover you if you are unable to return to your own normal employment or maybe will cover you if you are unable to work doing “any occupation” so there are lots of different elements to this but please make sure when you speak with your adviser you know exactly what you are getting and what you are covered for.
However you earn, you are covered
You can have an Income Protection policy if you are employed or self-employed.
We’ll help you run through the process and set up a plan that will help you pay your bills during any difficult times.
Our role is to help you make an informed decision
There are many aspects to all types of mortgage and we understand that you need to make the best decision.
You will undoubtedly have many more questions, so please feel comfortable enough to arrange a free, no-obligation chat!
Frequently Asked Questions
Here are a few of the questions we regularly answer for those who are wondering if this is the correct choice.
Just remember, we’re ready to chat and answer many more!
Here are a few of the questions we regularly answer for those who are wondering if this is the correct choice.
Get in touch and we would love to run through your options. Get started
Yes, you can!
Income protection can be taken by employed and self-employed people
You make a claim when you have an accident or become sick and you know you will be off work for longer than the deferred period you have set up.
There are policies out there which pay out without any deferred period so ask you adviser which one suits you.
It is designed to pay a monthly benefit to someone if they are unable to work because they have an accident or become ill. The policy is designed to pay out either until the term of the policy ends or until you are well enough to return to work.
Less than Netflix!
This has many variations and the cost for you individually would vary. The monthly premium for a 30-year-old man, a non-smoker who works in an office earning £30,000 per year who would like £850 of cover per month for 25 years with a deferred period of 3 months would cost him £11.28 (premiums quoted on 06/06/2018).
Yes, you can!
Income protection can be taken by employed and self-employed people
It is designed to pay a monthly benefit to someone if they are unable to work because they have an accident or become ill. The policy is designed to pay out either until the term of the policy ends or until you are well enough to return to work.
You make a claim when you have an accident or become sick and you know you will be off work for longer than the deferred period you have set up.
There are policies out there which pay out without any deferred period so ask you adviser which one suits you.
It is designed to pay a monthly benefit to someone if they are unable to work because they have an accident or become ill. The policy is designed to pay out either until the term of the policy ends or until you are well enough to return to work.
Less than Netflix!
This has many variations and the cost for you individually would vary. The monthly premium for a 30-year-old man, a non-smoker who works in an office earning £30,000 per year who would like £850 of cover per month for 25 years with a deferred period of 3 months would cost him £11.28 (premiums quoted on 06/06/2018).
Not a problem!
Let’s put the kettle on and have a chat. We’ll have you up to speed in no time!
