Income Protection Cover
Each year one million people in the UK find themselves unable to work due to a serious illness or injury (ABI 2017). Income protection insurance is designed to give you some cover if you can’t earn an income for those reasons. If something happened to you would you be able to survive on savings, or on sick pay from work? If not, you’ll need some other way to keep paying the bills and you might want to consider income protection insurance.
What is income protection insurance?
Income protection insurance (sometimes known as permanent health insurance) is a long-term insurance policy designed to help you if you can’t work because you’re ill or injured.
It ensures you continue to receive a regular income until you retire or are able to return to work.
It replaces part of your income – if you can’t work because you become ill or disabled.
• It pays out until you can start working again – or until you retire, die or the end of the policy term – whichever is sooner.
• There’s often a waiting period before the payments start – you generally set payments to start after your sick pay ends, or after any other insurance stops covering you. The longer you wait, the lower the monthly premiums.
• It covers most illnesses that leave you unable to work – either in the short or long term (depending on the type of policy and its definition of incapacity).
• You can claim as many times as you need to – while the policy lasts.
At First Call Mortgage Solutions Limited we’ll search the market on your behalf and fine the policy best suited to your needs and requirements
So why not get in touch and make that First Call today!
Warning : Income Protection plans that have no investment element have no cash in value at anytime and will cease at the end of the term. If premiums are not maintained, then cover will lapse.