As with Mortgage Payment Protection Insurance; income protection cover is designed to provide a regular income if you are unable to work and suffer a loss of earnings due to accident or illness. The difference between MPPI and income protection is that income protection offers a long term benefit.

Benefits of Income protection include;

• Payments of monthly tax-free income until retirement or till you return to work

• Provision of income if you are unable to work through disability, no matter how it is caused

• Payout can be level or set to rise with inflation

Income protection comes under many different names such as Permanent Health Insurance (PHI), Income Replacement Insurance, and Long Term Disability Insurance. However, they all do the same basic job, which is to pay you an income if you become unable to work due to sickness or injury

Some providers may also as an option include;

• House person’s cover - available if the life assured is not in full time employment or works less than 16 hours a week

• Mortgage payment protection / ASU

• Increasing Cover – whereby the level of income and the premium increases by say 5% compound a year to help offset the rising costs of living

Depending on your needs and circumstances, our consultants will source for the provider offering the solution to match your protection requirements.

For a no obligation quotation, contact us now or fill in our enquiry form