Income Protection is critical in helping you and your family remain financially secure if you are unable to work because of sickness or injury. With an Income Protection Policy you can remain financially secure and not have to worry if you are unable to work through illness or injury as the policy provides regular payments when you’re unable to work. Many people receive sick pay from their employers but statistics from the Department of Work and Pensions in September 2010 show that if you’ve been off work sick for six months, you have an 80% chance of being off for five years – even the best employment benefits rarely last that long.
Put simply, income protection works when you can’t.
- How long would your savings last if you were unable to work? 2.44 million people have been claiming incapacity benefit for more than six months (source DWP as at March 08 based on May 07).
- Employment and Support allowance is a maximum of only £105.05 per week.
- It can pay out from the first day of your illness and cover you right up to retirement!
- There is no limit on the number of claims you can make.
- Benefits are paid free of income tax (under current legislation)
We believe that correct and relevant insurances are the foundation of your financial planning and security and it’s therefore worth spending the time getting it right. Get in touch today for a free, no obligation protection review.