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Personal Protection Financial Planning Income Protection Insurance

If you are off work due to illness or injury, income protection insurance pays you a monthly income to cover basic living costs, so you and your family can cope financially. The plans can be tailored to take into account any sick pay you get from work, meaning you are only paying for cover that you actually need. Our advisers can ensure the right options are chosen based on your own circumstances.

  • Income can be used to replace your earnings while you recover.
  • Benefits can remain level or can increase in line with the cost of living.
  • Deferment period can be chosen to suit sick pay provided by your employer.
  • Following a claim, if you return to work, the cover can continue.

The Alan Boswell Group Difference

Business Income Protection

We aim to build long-term relationships between our clients and our independent financial advisers. We’ll take time to understand your needs, search the market, tailor a plan that suits you and find the best premium.

In detail

Income protection insurance is designed to pay out a monthly income if you are unable to work due to an accident or illness. These types of plans pay out an income until you return to work or until the end of the policy and can be seen as the foundation of any financial planning as it is likely that other plans will have to be given up if you do not have sufficient income coming into the household.

Income protection insurance is designed for anyone who is working (employed or self-employed). Even if your employer provides sick pay, it is unlikely to last for longer than twelve months and most companies offer less than this (some only offering statutory sick pay) so ongoing protection can be essential.

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FAQs

  • If you are off work due to illness or injury, income protection insurance pays you a monthly income to cover basic living costs, so you and your family can cope financially. The plans can be tailored to take into account any sick pay you get from work, meaning you are only paying for cover that you actually need. Our advisers can ensure the right options are chosen based on your own circumstances.

  • This depends on your employment, sick pay and other financial products/savings you may have in place. Our advisers can help by taking the time to find out about your circumstances.

  • This would usually be by getting in contact with the insurance provider.

  • If taken out on an individual basis the income payable in the event of a claim is usually tax-free.

  • This will vary depending on your own circumstances. Getting advice is very useful for establishing how much to protect you for and the most appropriate type of cover.

  • This varies depending on the level of cover, the type of cover and your own health and circumstances.

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