Income Protection

What is it?

How would you pay the bills if you were unwell or injured?

An Income Protection plan (also known as PHI) is designed to pay out a regular income in the event you are unable to work due to an accident or illness. These types of plans continue to pay out an income as long as you are unable to return to work up until the end date of the policy (typically your normal retirement age).

This type of plan is quite often seen as a high priority as it is likely that other plans will have to be given up if you do not have sufficient income coming into the household.

Who is it for?

This type of plan is designed for anyone whom is working (employed or self employed). It’s worth pointing out that even if your employer provides sick pay, it is unlikely to last for longer than six to twelve months and so ongoing protection is essential. Plans can be adapted to fit in with any existing protection you might have. Once again there are many different providers in this market and therefore it’s important we asses which companies suit your age, occupation and medical history.