Professional Mortgage Advice

Income Protection Cover

Through illness or injury, a percentage of your income can be protected with Income Protection Cover. When your income is important, it's certainly worth protecting.

Income Protection Cover pays you a percentage of your regular income if you can't work due to ill health or accidental injury. The benefits start after an agreed period of time called the deferred period.

The deferred period is the amount of time that must pass between your first day off work and the point at which you can start to receive benefit payments. The longer the deferred period you choose, the lower your premiums will be. So, if your employer provides sick pay for a period of time, you may be able to delay when you want your benefit to start by selecting a longer deferred period.

For many though, this can be confusing. Everyone's protection needs are different which is why it's important to understand what the right cover is for you.

Income protection pays out if you can't work and suffer a loss of earnings due to ill health or accidental injury and can offer real peace of mind at a time when you may be otherwise preoccupied by health concerns.

The plan will have no cash in value at any time, and will cease at the end of the term. If premiums are not maintained, then cover will lapse.