Income Protection Insurance
We all insure our cars and homes but we often forget to protect what pays for it all: our income. Income protection can provide you with a tax-free monthly benefit, covering the majority of your salary, if you’re unable to work due to illness or an accident.
Given the level of government support available and with fewer employers offering long term sick pay above and beyond Statutory Sick Pay, a personal Income Protection policy is more important than ever.
Additional Benefits of Income Insurance
Many Income Protection policies also come with additional benefits to help you make a speedy recovery and reduce the stress associated in these circumstances. Here are some examples:
GP Helpline – Providing 24hr telephone access to a qualified GP
Legal Advice – Providing free legal advice on matters such as employment law, property-related issues, wills and probate.
Proportionate Benefit – Allowing you to return to work in a reduced capacity whilst still paying you a percentage of your monthly benefit amount
Physiotherapy & Counselling – Assisting your recovery so that you are able to return to full health as soon as possible
Death Benefit – Should the worse happen, a lump sum could be payable to your family to cover funeral expenses and pay off outstanding debts