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Income Protection

Income Protection

Peace of mind if you’re unable to work because of an accident or ill health.

Taking out Income Protection Insurance means you’ll be paid a monthly, tax-free income if you are signed off by your doctor as being unable to work due to illness or injury.

You would continue to receive monthly payments until you were able to go back to work, these payments can be vital to ensure you keep up with bills, mortgage repayments, rent or childcare costs.

Even if you can’t go back to work, the policy will pay you an income for the rest of your plan term so you can rest assured that you are fully protected.

According to Which (2019), Income Protection Insurance is the one personal protection product every working adult should consider.

Up to 90% of  Income Protection claims in 2018 were for members under the age of 50, highlighting the importance of this cover for all ages.

Most people rely on their salary to keep on top of monthly expenses, without this salary you can be left in a difficult situation when having to cover rent, mortgage repayments or bills.

Income Protection Insurance ensures you receive a monthly income for as long as you need to recover so even if you have to be off work for a prolonged period, you can protect your finances.

Some things to consider:

Each year one million people in the UK find themselves unable to work due to a serious illness or injury (ABI 2017).

It pays part of your income if you are unable to work because you are ill or injured.

It pays out until you start working again.

There is often a waiting period before payments start.

Income protection It ensures you continue to receive a regular income until you retire or are able to return to work.

You may not need income protection if you have enough savings, or financial support from a partner or family.

It covers most illnesses that leave you unable to work.

You can claim as many times as you need to, while the policy lasts.