A monthly payout in those unexpected times
Life can bring unexpected events and we want to help make sure that you are prepared and receive the support that you require in this time of need. With our Income Protection Insurance, you will receive a monthly payment to cover some of your lost earnings to enable you to pay those outstanding bills, continue your family’s current lifestyle and allowing you to focus on your health..
What is income protection insurance?
Income protection insurance is there to ensure that you receive a monthly regular income to help contribute towards your family expenditures should you not be able to work due to an illness or injury. It is an essential cover to have as we are more likely to be off work due to an illness before retirement than pass away.
The benefits of Income Protection Insurance?
There are many benefits to Income Protection Insurance. Income Protection Insurance helps to minimise the impact ill-health can have on your life by providing you with an ongoing financial safety net should you fall ill and are unable to work.
Most occupations will be covered (including those who are self-employed) and policies will payout between 50-70% of your monthly gross income. Should you need to claim, payouts are tax-free and can enable you to continue with your current lifestyle.
Do I need Income Protection Insurance?
Income protection insurance is there to safeguard your monthly salary. You should consider income protection insurance if you are the main income earner and you can’t cover your outgoings should you fall ill or be injured. In particular if you are self-employed and would not be entitled to sick pay or you couldn’t pay all your bills with Government benefits, then income protection will help to ease those worries in such a distressing time.
Executive Income Protection Insurance (Exec IP)
At Business Cover Expert we also like to make sure that businesses are also protected in all circumstances. That is why we are proud to be working with selected providers to offer Executive Income Protection Cover.
Executive Income Protection helps businesses of all sizes against the financial impact of an employee not being able to work due to sickness or injury. The plan would pay a monthly benefit to the business, which will enable the business to pay for the employee’s ongoing extended sick pay in the event of a claim. This will enable the employee to meet their financial commitments as well as ensuring the business has enough funds to cover these payments.
There are a vast range of cover and options to meet both the employers and employees needs. For a free, bespoke no obligation quote speak to our advisors today.
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Frequently asked questions - Income Protection Insurance
Please drop us a message if you have any queries. Here are the most commonly asked questions about Income Protection Insurance.
What is the difference between Executive Income Protection and Income Protection?
What should I consider as my annual salary?
Does Income Protection insurance take into account my monthly bonuses?
Can Income Protection Cover include my dividends?
I am self-employed can I get Income Protection Insurance?
Are the Income Protection payments tax free?
How much of my income can I claim?
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