Do I Need Income Protection Insurance?
Income Protection insurance exists to give you a degree of cover if you can’t work, due to either serious illness or injury. Would your savings or sick pay from work support you enough to pay the bills? If you didn’t have income protection insurance, you would have to survive on whatever savings you had or […]
Executive Income Protection explained for companies
Executive Income Protection is designed for companies that pay for a monthly income accident and sickness plan if an employee finds themselves unable to work because of an illness or injury. Rather than the person buying the insurance for themselves, it is paid for by the company. This way, the plans can pay a regular […]
Critical Illness Vs Income Protection
Which is the right cover option for you? In the UK alone, over 1 in 3 people will develop a critical illness, for instance a form of cancer, in their lifetime. Regular income is necessary, as mortgage’s and other payments mean your family or home is at risk if you have to be off work […]
Group Income Protection Insurance or Executive Income Protection?
Group income protection insurance a policy that held and paid for by the employer. It is designed to support your employees’ financially if they are unable to work because of an illness or injury. This is good as it makes the long-term sickness absences more manageable, and helps to retain important employees. The benefits will […]
Self Employed Income Protection Insurance
Self-employed income protection insurance is an insurance policy that pays out a tax-free proportion of your pay if you have an injury or become ill to the point where you cannot return to work. Due to the nature of self-employment, you don’t get statutory sick pay or redundancy pay, so an income protection insurance plan […]
Directors Income Protection Insurance
All Income Protection insurance policies exist to give you a degree of cover if you can’t work, due to either serious illness or injury. But what if you are the Director of a company? What would happen to yours and the company’s earnings? Standard Accident & Sickness insurance can cover you for a short to […]
Understanding Income Protection Insurance
When trying to take out Income Protection Insurance yourself, there is often a lot of confusion about policy options would be best and the costs of the premiums and cover. This article serves to clear up some of the confusion and help you understand the types of policies you can take out. On average in […]
Mental Health and Income Protection Insurance
Between 2017 and 2018, the HSE or Health and Safety Executive found that 15.4 million working days had been lost because of work-related stress, depression or anxiety. Further to this, in 2011, 31% of all claims with the insurer LV were for Mental Disorders like stress. Legal & General reported that mental health problems were […]
Life Insurance or Income Protection Insurance?
Income protection insurance is designed to offer security for the policy holder to keep paying necessary bills if they become unable to work due to injury or illness in the form of a monthly benefit amount. When considering if you might need income protection insurance, look at your regular monthly bills like: Household expenses, Credit […]