Income Protection Insurance

Income protection insurance cover pays out on a monthly basis in the event that the policy holder cannot do their own job. It is a lifestyle insurance.

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“The one protection policy every working adult in the UK should consider is the very one most of us don’t have – income protection.” Which? 2014.

What is income protection?

  • Income protection cover is a lifestyle cover which provides monthly income to the insured policyholder after a chosen deferred period.
  • The monthly pay out is based on a percentage of your salary, typically 65%, or if you are self-employed based on a percentage of salary and dividends.
  • The policy pays out until the policyholder are able to return to work and so policies can pay out until retirement age.

Who should take out income protection / long term sickness cover?

If the answer is, YES, to any of these questions then you should consider taking out a suitable income protection policy:

  • Are you the sole breadwinner in your family?
  • Do you have financial dependents to support?
  • Do you have regular bills to pay?
  • Do you run your own business?
  • Could you and your family maintain your lifestyle if you couldn’t work for a protracted period of time?
  • Are you self-employed?

Alex specialises in brokering suitable income protection for self-employed contractors and group income protection insurance

Please get in touch for more information.

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