Income Protection (IP)

Ensure you have the right cover to make tough times easier.

·         Professional, empathetic approach

·         Variety of providers available for your medical history

·      Tailor fit, no obligation advice

Although it can be an emotional topic, it’s crucial to consider what would happen to your family if you were no longer able to support them. Planning ahead and ensuring your loved ones will be taken care of and able to stay in their home can bring you peace of mind.

We’ll work with you to understand your needs and build a package tailored to your situation, so no matter what life throws at you, you know you will be covered.

Call 01225 280 900 today to discuss for a free lifestyle review.

What is Income Protection (IP) and is this suitable for me?

Income protection (IP) is designed to safeguard your income in the event that you become unable to work due to an accident, injury, or illness. This type of cover typically provides up to 70% of your annual income and is paid out as tax-free income.

To determine when you require IP to start, it is essential to verify any sick pay benefits provided by your employer. This duration is referred to as the “deferment period” and can range from 4 weeks to 52 weeks. The longer the deferment period, the more affordable the IP policy will be.

Imagine you suddenly cannot work because you’ve fallen sick, had an accident or lost your job through no fault of your own. Income protection is then designed to pay an agreed percentage of your salary each month until the policy expires or retirement. You can then use this money to cover essential bills, debts and other day-to-day costs.

IP is particularly useful for people working in dangerous industries who want to be sure their finances will be covered.

It could be suitable for you if the following apply:

  • You’re self-employed so have no sick pay to fall back on
  • You have limited employer benefits, such as 6 month sick pay and limited savings to cover time off work
  • You and your family depend heavily on your income

It’s worth considering the following points:

Everyone’s needs are different, talk to our protection team to find out more.