Income Protection

Income Protection pays you a regular income if you can’t work because of sickness or disability and continues until you return to paid work, retire or die. It does not cover redundancy. Income Protection is also referred to as Income Continuance, Salary Protection or Permanent Health Insurance but it is not the same as Private Health Insurance. To have income protection cover you must be in paid work or be self-employed.

You are allowed to receive a benefit of 75% of your pre-disability gross income including state benefits or any other payments.

Over the last few years, workers have started to realise just how important their income is. Your Income is your most important asset as it pays for everything! Income Protection is the protection of the asset that pays for and protects all your other assets.

You will need Income Protection if:

• You are self-employed and would have no source of income if
• you couldn’t work due to illness or disability
• You have little or no sick pay from your employer You have no ill-health pension protection
• You have dependents who rely on your income You have no other source of income or money Benefits
• you may be entitled to would not be enough to replace your lost income and/or cover your normal expenses