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Income Protection

Income Protection

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What is it?

This type of plan, also known as Permanent Health Insurance, is designed to replace your salary and will provide a tax-free income if you are unable to work through disability. The policy pays a monthly tax-free income until you recover - right up to retirement date if needs be and the payout can be level or set to rise with inflation. This insurance allows you to concentrate on getting better rather than worrying about how you are going to pay your bills.

The maximum cover you can have is typically half of your gross income but as it is paid tax-free it should mean that you can maintain a similar level of take home pay. However, some employers provide this cover as part of your overall employment package - so check these details first.

Everyone should have this cover, because the State simply does not provide adequately.

If you need more help deciphering the complex exclusions and differences in cover, seek some advice and contact us today.

For protection insurance we offer products from a range of providers.

 




Whether you are looking for the best deal on a residential mortgage, or if you are considering Life Cover, Critical Illness, Income Protection or a Healthcare Plan, we offer expert and impartial mortgage advice on the widest choice of products in the UK.