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Income Protection

We can also provide you with replacement income when you are unable to work due to long term sickness or incapacity. The benefits allowable are governed by legislation but are usually around 50% of your income (as a maximum) before deductions. The benefits are paid tax free and are in addition to any incapacity benefits that you may receive.

In real terms you will be able to effectively replace most of your lost net income. Benefits are set at outset to be paid after any sick pay from your employer ceases. The actual period before payments commence can range from 4 weeks to as long 2 years with lower premiums payable for the longer periods.

Premiums are level throughout the term and will vary dependant upon your actual occupation and level of income required. For example you may choose to take less than the maximum benefit, and some companies offer discounted rates in this event. As with Term Assurances you can also chose to have benefits index linked to preserve their value in real terms. Please ask for details.