Income Protection
Income Protection
Personal Income Protection
Are you gambling with your financial security?
Whether you live to work, or work to live, the chances are you're dependent on income from employment to meet financial commitments.
If you don't protect this income, you're playing roulette with yours and your family's future. Ask yourself some simply questions
- how would you survive if you were unable to work due to illness or injury?
- how much would the State provide?
- how long would your savings last?
- how long before you have to sell your house?
- how would you survive?
£75.40* is the maximum State Benefit you would receive if you were unable to work through illness or injury - equivalent to an income of just under £4000 per year.
Ask yourself the question, could you meet your outgoings, let alone maintain your lifestyle with an income this limited?
Income protection can help ensure that this doesn't have to happen, by paying a regular, tax-free** benefit in the event of incapacity.
Research shows that 18% **** of households in the UK have pet insurance, whilst only 7% ***,of UK consumers have an income protection policy.
It's all a question of priorities really; we're a nation of animal lovers, but what's more important, the family, fido or tiddles?
If you are unable to work due to illness or injury you and your family will be the first to suffer - income disappears, sooner or later any savings will disappear too.
Income protection can ensure this doesn't happen ensuring financial stability for you, your family, even your pets...
The questions are endless.
BrookMill IFA Ltd can help provide the answer to these questions; providing a regular tax-free** income in the event of incapacity; which sadly, at odds of 10 to 1***, is a safer bet than you may think.
Ask us how we can help protect your long term financial security today.
This policy is designed to provide a tax free income in the event the insured individual is unable to work due to ill health. The level of premium will depend upon benefit and term selected and most policies cease to pay the benefit once the insured is able to return to work. Income Protection policies are usually written to age 65.
Please contact us to discuss your Income Protection requirements.
* Short-term Incapacity Benefit - Higher Rate (paid after 28 weeks of incapacity) Source: Benefits Agency ** Under the current legislation benefits are paid tax free. Please note that this situationmay change *** Based on research by Mintel 2006 ****Datamonitor, 2006.
Accident, Sickness and Unemployment Protection
- Accident, Sickness & Unemployment (ASU)
ASU policies were traditionally developed to accompany mortgages, allowing for a regular income to be paid to the insured should they be unable to work (or lose their job). The product can be split down, and unemployment cover is usually the optional extra available for an additional premium. It is important to compare ASU and Income Protection closely as one may be more suitable than another.
Please contact us if you wish to discuss your Income Protection requirements