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Income Protection

Permanent health insurance-Income protection insurance….

  • Protect your income against sickness or injury with a tax-free monthly benefit.
  • Choose your length of cover, which can provide until retirement if desired.
  • Insure up to 65% of your pre-tax monthly income whether employed or self employed.
  • Multiple claims can be made over the term of the policy if you are unable to work.
  • Maintain your standard of living with government support limited to ¬£96 per week.


Sick pay, it's something we take for granted in this day and age but it's amazing how many people are unaware of the level of income protection their employer does (or doesn't in many cases!) provide. Many employers only pay statutory sick pay which doesn't amount to much, even the best sick pay will have a maximum time frame of say 6 months and what if you're self employed Protecting yourself against losing your income through injury, sickness or disability with an income protection plan could mean the difference between being out of action and out of a home!

Income protection insurance pays a monthly tax free benefit if you are unable to work due to illness, injury or disability until you recover or the policy expires, whichever the sooner. The benefit can be set to rise with inflation and you can defer the benefit for a set period to bring the premiums down, for example; you may receive 3 months sick pay through your employer so you set the income protection plan to start paying out after 3 months of sickness.

The maximum cover you can typically have with a permanent health insurance policy is between 50% - 65% of your gross income but as this is a tax free benefit it shouldn't be too much less than your employment income after tax.

Some form of income protection should be a high priority for anyone with financial commitments whether it via a permanent health insurance policy or a more basic Accident, sickness and unemployment insurance (sometimes called mortgage payment protection)

Consider if:

  • You want protection in case at some point in the future an accident or injury prevents you from working, resulting in loss of earnings.
  • You are self employed. A long term illness or injury could threaten your whole livelihood. Having income protection could help ease the strain.
  • You are single without anyone you can rely on for financial support. An Income Protection Benefit Plan could help provide financial security and added peace of mind

For more information please call us now on 01323 412013.