Designed For You
What is it?
An Income Protection plan is designed to pay out a regular income in the event you are unable to work due to an accident or illness. These types of plans continue to pay out an income as long as you are unable to return to work up until the end date of the policy (typically your normal retirement age).
Some newer plans are designed to cover shorter periods of illness, typically up to two years. These new types have cover have made Income Protection cover much more affordable.
This type of plan is quite often seen as the foundation of any financial planning, as it is likely that other plans will have to be given up if you do not have sufficient income coming into the household.
Who is it for?
This type of plan is designed for anyone who is working (employed or self employed). It is worth pointing out that even if your employer provides sick pay, it is unlikely to last for longer than twelve months and so ongoing protection is essential. Plans can be adapted to fit in with any existing protection you might have. As advisers we can help you find the plan that best meets your requirements.
How would you meet your day to day bills and expenses in the event of long term illness or injury? How would that affect your family financially?
The plan will have no cash in value at any time and will cease at the end of the term.
If premiums are not maintained, then cover will lapse.
