Income Protection

What is Income Protection?

Income Protection is an insurance policy that pays out if you are unable to work due to an accident, injury or illness. Income protection policies are usually set up to pay out until your stated retirement age, Financial Adviser Newport. 

Why do I need Income Protection Insurance?

Only a minority of employers support their staff should they be unable to work, and for the self-employed being unable to earn a living to may prove detrimental to their finances. Given the low level of state benefits available, everyone of working age should be encouraged to consider income protection.

How much does income protection cost and how much will it pay out?

The premium of your insurance policy will depend on your age, health, lifestyle, occupation and the level of cover required. Income protection policies can pay out upto 60% of your annual earnings, on monthly basis should you be unable to work for a defined period of time. Payments received from income protection are made tax free.

For friendly and straightforward advice contact Premier Financial Solutions: 02920 099150

 

As with all insurance policies, conditions and exclusions will apply.