Request an appointment to discuss income protection insurance.
One of our friendly staff will contact you as soon as possible to arrange a suitable time – just enter your details below or call us on 03 365 1759
How would you and your family survive financially if you were disabled, and unable to work for an extended period of time?
Income Protection Cover pays a Monthly Income if the insured person is unable to work due to Sickness or Injury. It means that, during periods when you are disabled and unable to earn an income, your financial obligations can still be met, while you concentrate on recovery.
Common reasons for having Income Protection are:
- It secures your lifestyle – you can insure up to 75% of your Income. This means that, should you not be able to work, you have an on-going source of funds to maintain your family’s lifestyle.
- You can safeguard your existing savings and investments – if you can’t work and don’t have a regular income, then you may stand to lose not only any investments you have, but also other assets, such as your home.
- It provides you with choice – you can work with your treatment providers and other Specialists to assist in your rehabilitation and return to full-time work.
There are 2 types of Income Protection, – Agreed Value, which usually pays 55% of pre-disability income and is usually tax-paid, or Indemnity Cover, which usually pays 75% of pre-disability income and is taxable.
There are various Waiting Periods available before payments are made and these Waiting Periods differ for each person’s needs. Your Adviser will discuss these options along with the type of cover which best suits your needs.