Income Protection Insurance

Income Protection
Protecting

Income Protection replaces part of your income (tax free) if you are unable to work for a long period of time because of illness or disability, and will continue to pay out until you can return to some kind of paid work or reach retirement, whichever is sooner.

Income Protection Advice

Alongside life insurance, income protection is a must-have insurance for most working adults, but only few of us currently have. It has a waiting period before it will start to pay out. The longer you agree you’ll wait, the lower your premiums will be, so it is important you find out what income you can get from your employer, and other insurance in the event of illness or disability.

Planning ahead makes sense

This cover might not be available to you if you have existing health problems or a dangerous job. Because not everything in life is straightforward and things don’t always go to plan. We can help you prepare for the unexpected and put in place some financial safety nets in case anything happens to impact your family or disrupt your plans. For peace of mind get in touch today.

CONTACT US NOW FOR YOUR FREE NO OBLIGATION CHAT

If you ready to secure your dream home and protect it, the easiest way is to search our advisers, view their profile and drop them a message. They will call you back at your chosen day and time at no cost or obligation to you. If you would rather we connect you with the best adviser in your location just complete the quick form, we will arrange a callback for you.
  • - How can we help -
  • First Time Buyer Mortgage
  • Remortgage
  • Buy To Let Mortgage
  • Home Insurance
  • Life Insurance
  • Critical Illness Insurance
  • Income Protection
  • - Whens a good time to call you -
  • ASAP
  • Let me choose

Income Protection Insurance, don't wait until it's too late

Mortgage Steps

What is Income Protection Insurance

If you are an employee and you fall ill, your employer might pay you your full pay for a few weeks or months. By law, an employer must pay most employees statutory sick pay for up to 28 weeks, though this will probably be a lot less than your full earnings. After that, you would probably have to rely on State benefits resulting in a substantial drop in your income if you were out of work for more than a few months because of illness or disability.

null

Which Income Protection is best for you?

There are usually three types that you’re protected against – accident and sickness only, unemployment only and the more comprehensive, accident, sickness and unemployment cover (ASU). You’re able to protect up to 70% of your gross salary and it’s designed to replace your income and to pay out a tax-free monthly sum until you are able to return to work, which can be used to help pay your monthly mortgage and certain bills.

null

Getting back on track

Income Protection Insurance aims to put you back to the position you were in before you suffered a loss. But it does not allow you to make a profit out of your misfortune. So the maximum amount of income you can replace through Income Protection insurance is broadly the after-tax earnings you have lost less an adjustment for State benefits you can claim. This usually translates into a maximum of, say 50% to 65% of your before-tax earnings.

MORTGAGE STEPS

Why should you take out Income Protection?

Income protection is a useful product for anyone who wants to cover their salary so they don’t fall behind with monthly outgoings should they be unable to work. Typical times when people consider it include:

  • If they’d struggle to make ends meet if they had no incoming salary
  • If they have dependants
  • If they’re self employed

Income Protection news & information

We have prepared some Income Protection posts.
These may help you if your new to the market or just looking for extra information

Get in touch with us today for help with your Home Insurance

  • Find your Mortgage or Insurance adviser today

    Search Advisers
  • Or let us connect you with your local adviser

    Connect Me
  • Or call us on 0845 3700 172 between 09:00 - 17:00