Income Protection

Do I need it?

Often people may be insured by the company they work for, however many of us aren’t. Certainly if you are self employed. Ask yourself a question, who would pay your mortgage or bills if you were to become seriously ill? This is where taking out income protection can really help. No one wants to think of this happening but why not put measures in place now should it happen.

What is it?

Income protection insurance pays you a regular income if you can’t work because of sickness or disability and continues until you return to paid work or you retire. Income protection insurance is also known as permanent health insurance.

The amount of income you are allowed to claim will not replace the exact amount of money you were earning before you had to stop work. You can expect to receive about a half to two-thirds of your earnings before tax from your normal job. This is because some money will be taken off for the state benefits you can claim, and also the income you get from the policy is tax free.

Why get advice?

71% of all policies come from independent advice (abi 2019). It pays to speak to someone who knows what they are doing before choosing your cover. This can save any unfortunate circumstances in the future if you have taken out the wrong policy.

Here at My Protection Guru we offer a free initial chat to find out exactly what you are looking for, before we guide you in the right direction with the correct policy.