Income Protection

Ever asked yourself how you would cope financially or how your staff would cope if illness or incapacity strikes? One certainty is that our ‘nanny state’ will not look after us and with ever increasing commitments it is vitally important to consider the financial implications of being incapable of earning and seek insurance cover to assist in your time of need.

An Income Protection policy gives you monthly tax free income if you can’t work because of illness or disability.  This will be up to a maximum percentage of your earnings – often 50% or 60%.

Payment under this policy commences after you have been off work for a time called the ‘deferred period’. You chose how long you wish the deferred period to be – the most common is 4, 13, 26 or 52 weeks.  The longer the deferred period the less your monthly premium will be.  Your monthly premium will also depend on your job, general health, smoking status, the level of cover you require and gender (women pay more). It is always a good idea to check your employment contract and be aware of any incapacity benefit that your employer provides for you.

For a personalised quotation contact us on 0141 951 4100 (option 2).