Income Protection Insurance

Income Protection Insurance

Should you find yourself unable to work and maintain your regular income due to illness or injury, Income Protection Insurance is a comprehensive form of cover that will help keep financial troubles at bay.

When it comes to Income Protection Insurance, we would like you to think about the following questions:

  • If you were unable to work and maintain your income, would your family be able to maintain mortgage payments?
  • How much support would State Benefits provide?
  • Do you have any savings? If so, how long would your savings last?
  • Do you have any Income Protection cover provided by your employer?
  • For how long would your employer pay you in the case of long-term absence? Would your salary continue for a limited period?

When your savings have been exhausted and the basic State Benefits provide the only option to fall back on, you may quickly find yourself in a financially precarious situation.

Protection against Long-Term Incapacity

Also known as Permanent Health Insurance or PHI, Income Protection Insurance provides a safeguard against the devastating impact of long-term incapacity with a monthly, tax-free income. These monthly pay-outs continue until you return to work or the policy reaches its selected term (usually retirement age).

Providers offer a considerable choice of cover and the cost of this insurance varies depending on a number of factors, including your age, smoker status, occupation and state of health at the time of taking out the policy.

Our specialists at Vintage Wealth Management will identify the best type of policy for you that strikes a balance between cover required and monthly cost. There are plenty of great options available – it’s just about finding a professional who can guide you in the right direction.

Our team also have specialist expertise in setting up protection policies for the self-employed, who will have no employer to pay their salary in the event of long-term incapacity.