Income Protection
Most people are happy to insure their cars, their homes, their mobile phones but they often forget to insure the thing that pays for everything – their income.
There are a number of Income Protection policies available which provide a regular tax-free monthly income if, due to ill health or injury, you are unable to work and as such suffer a loss of earnings.
You will receive a monthly payment until you are able to return to work, you retire or until your coverage period ends. The monthly payments enable you to pay your monthly bills and maintain your standard of living. You have the option to link the benefit to RPI to maintain your lifestyle throughout the claim period.
Zurich Insurance announced that they paid 97% of Income Protection Claims in 2016.
Cover options
There are a number of different options available depending on your current circumstances and the type of protection you require. After an initial consultation, we can tailor your policy to your requirements ensuring a cost-effective option is provided.
Permanent Health Insurance (PHI) pays a regular income if you suffer long-term sickness or injury. Benefits usually start after a waiting period of between four and 52 weeks, typically after work-related pay stops. It is payable until you return to work, die, or the policy term expires