Income protection provides you with a replacement income if you cannot work as a result of an illness or injury after a certain period of time.
You can take out income protection if you are in full-time work or are self-employed and earn an income. It protects you only in these circumstances – it will not be paid if you become unemployed.
Income Protection Calculator
What is Income Protection?
Income protection insurance pays out a regular cash payment that replaces part of your lost income if you can't work due to a medium to long-term illness or disability. It can also be called 'permanent health insurance' (PHI) - but is not the same thing as private health insurance. Cost depends on your age, income, health, occupation and the benefits you choose.
Why Take it?
Could you maintain your current standard of living if you were out of work? If the answer is no, you need income protection. Having income protection will provide you with the peace of mind in knowing that if you did become unable to work due to an illness or disability, your family will have a secure safety net in place.
To find out more about how you can protect you and your family from the financial difficulties that would arise if you were to become unable to work, contact our team today.
Your Income Protection
The area of income protection is very broad and can be quite overwhelming. We are here to explain your options to you in a clear and understandable manner so you can decide how best to protect you and your family today.