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Income Protection in the UK
Income protection is a form of insurance designed to help people who unexpectedly lose their jobs or experience a major accident or illness. With income protection, a person can keep their bills paid and a roof over their head as they sort out the future. In an era when redundancies are commonplace across all major industries, having income protection in the UK isn’t just a good idea — it’s an incredibly practical solution, especially in such uncertain times.
Sickness and injury are disastrous precisely because they can’t be scheduled. No one anticipates getting into a traffic accident or developing a potentially lethal disease. In these instances, having an income protection plan is a way to reduce financial pressures and deal with the urgent situation at hand. In family situations, income protection makes it possible to provide care for an ill child or relative when they most need assistance. As one wise man noted, life is what happens while you’re busy making other plans. Income protection is an invaluable form of security for those moments when life introduces a slew of challenges.
Most importantly, an income protection plan acts as a fortified bridge from one period of life to another. Most income protection policies come with legal helplines and back-to-work services that will help people cope with redundancy and find new positions in their desired fields. These programmes will also answer any questions about tax issues. In many cases, the premium payments themselves are exempt from taxation. As always, we encourage all interested parties to ask for details at the time they first investigate our policies. Income insurance isn’t just a way to expect the unexpected. It’s a way to maintain a standard of living no matter what events transpire.
Whether a person is self-employed, a contract worker, a sub-contract worker or a traditional employee, income protection cover functions as a way to protect against the loss of income. Our plans also can continue to provide a benefit should a person resume work in a reduced capacity at a lower salary. Depending on the specific package, income protection covers up to 65 percent of a person’s gross monthly income. For more details on our range of packages and to obtain a competitive income protection quote, please see our income protection insurance policy and income protection cover pages. We strive to make all of our policies straightforward, effective, and easy to access. Our sign-up procedure takes only a few minutes to complete but provides a lifetime of security.