Income Protection

There is never a right time to become seriously ill or be involved in an accident. When an illness or an accident brings you to a stop it can rapidly bring your income to a stop too, unfortunately it does not bring your bills to a stop.

Statistics show that working men and women between the ages of 20 and 65 should take the possibility of long periods of illness seriously. Recent studies have shown that 1 in 4 men and 1 in 5 women currently in their twenties and thirties will suffer from cancer, a heart attack or another type of critical illness before reaching the age of 65. (source OPCS cancer statistics 1989 and morbidity statistics from general practice 1991-1992)

An income protection plan is designed to provide financial support in the event of you suffering a long-term illness or disability. It will provide you with an income to help maintain your standard of living for as long as it takes before you are fit enough to get back to work again.

We will help you decide the level of income you require to continue with the lifestyle you and your family have become accustomed to should you suffer a long-term illness. We will then based on your current situation help you choose how soon after onset of incapacity you need the income from your plan to start. This period of time is called the deferment period. With most providers, you have the choice of 4, 13, 26 or 52 weeks deferment. After this period of time, you will start to receive the benefits of your plan.


Increasing cover : This is where the level of income provided by your plan automatically increases each year during the duration of your claim. The increase amount is typically 5% compound each year to keep up with the cost of living from one year to the next.

Level Cover : This is where the level of income provided by your plan remains level throughout the duration of your claim.


Hospital benefits.


If you are confined to hospital for, a period of normally 8 days or more a benefit equal to your income benefit will be paid. There is normally a maximum period this section pays out.


Career Break.
If you stop working to raise children, for example you can reinstate cover within normally 5 years on your plans original terms.


Waiver of premium.
This means while you are receiving your benefits your provider will effectively pay your premiums.


Competitive Premiums
The premium required will depend on a number of factors such as age, level of benefit and period of deferment. A further factor affecting premiums is "occupation". The more manual or stressful the occupation, the higher the premium will be.

  1. Non Manual - Accountant, Clerk, Draughtsman, Doctor, Secretary
  1. Light Manual - Car Salesman, Chef, Hairdresser, Travel Agent
  1. Skilled/Semi Skilled with emphasis on Manual Duties - Baker, Butcher, Printer
  1. Heavy Manual - Electrician, Window Cleaner, Driver, Metal Worker

It is therefore apparent that not all permanent health policies are the same. With this in mind, expert advice and guidance is strongly recommended. We source the whole market to provide you with the most cost effective and appropriate plan to suit your circumstances.

Peace of mind at a price to suit your own budget.

Premiums start from £10 per month. How much you pay each month is however dependent on a number of factors.

For example:

  1. A 30-year-old male, office worker
  2. Has chosen £1,500 a month benefit income
  3. Healthy non-smoker
  4. Has opted for benefit to be paid after 13 weeks
  5. Policy is due to stop when he reaches 60
  6. Standard risks
  7. He will pay £25.65 a month and, if he were eligible to claim £1,500 a month over the 30 years of the policy, he could receive over £1 million over the course of the claim. This is based on a policy increasing annually by RPI (assuming RPI is 4% per annum).