Income Protection Insurance

Have you ever thought how you would cope financially should you be unable to work due to sickness or accident?

How would you pay the mortgage and other household bills? Would you be able to maintain your current lifestyle?

Income Protection Insurance is designed to help protect your financial commitments by paying regular tax-free payments should you be unable to work due to sickness or accident which results in a loss of earnings.

No-one likes to think they'll lose their income through sickness or accident - but it does happen. Last year, there were over 2.4 million people aged between 18-64 claiming incapacity benefit. Of those, over 80% were claiming for more than 6 months and 40% claiming for more than 5 years. What if you'd been one of them?

Apart from saving for a rainy day there are few options to help you prevent financial ruin in these circumstances. However, Income Protection Insurance provides you with the ability to protect a portion (e.g. 60%) of your monthly income for exactly this event. Income Protection Insurance will commence paying benefit from as little as the first day you are unable to work and will continue paying until you are able to return to work again however long that might be.

If you can't return to work because of your illness, it can continue paying until your retirement and replace your income for the rest of your working life!