Its important to have income protection especially if you are self employed or have little or no company sick pay.
An income protection policy pays out a regular cash payment replacing part of your lost income if you are unable to work due to any accident, disability or illness. The cost varies on your occupation, the amount covered, the deferred period and term of the policy. Mortgage Repayment Protector is also available, which can be used to pay for your mortgage if you were unable to work due to accident illness or redundancy. Premiums are fully tax deductible whether you are an employee or self employed. You will get a tax credit for your Income Protection premiums
Everyone insures their car or house and forget to insure their income which is your most important asset, without your income you will not be able to pay your monthly bills. Income protection cover is essential for anyone who is working, as you would see a drastic fall in your income if you were unable to work. If you are self employed you are not entitled to state disability benefit – can you afford not to have an income protection?
We have a number of providers and can therefore recommend the best product to you. Talk to our QFA qualified adviser today to protect your income.