Income Protection Benefit

How would your clients pay their bills if they couldn’t work?

People are not always aware of what could happen if they were unable to work due to incapacity caused by illness or injury and many have no financial back up plans to protect them. This is where our Income Protection Benefit Plan can help your clients protect their income as well as their lifestyle.
 

Income Protection Benefit video

How it works

  • Income Protection Benefit

    It provides a monthly benefit for your clients should they be unable to work due to incapacity caused by illness or injury, which results in a loss of earnings. The monthly benefit is paid until they recover and are no longer incapacitated, their policy ends or they die - whichever happens first.

    Your clients can use this monthly benefit in a number of ways:

    • Helping towards their mortgage or rent payments
    • Household bills
    • For medical care
    • To help maintain their lifestyle

    However, the benefit calculations and different options available can often confuse clients. This is where you can best help them to understand that this product could be the right one for them.

Benefits for your client

  • Our plan is flexible to help protect your clients’ income and lifestyle
  • Access to Rehabilitation Support Service at no extra cost which can help guide your clients back to good health
  • NHS sick pay protection for NHS doctors, nurses and surgeons. A Stepped benefit plan can be set up with a 26 and 52 week deferred period split, this matches their sick pay structure after 5 completed years of service
  • Income Guarantee to help protect your client’s chosen monthly benefit
  • Greater flexibility with the ability for clients to change benefit amount, length of plan and deferred period (eligibility criteria applies)

Benefits for you

  • Low Cost Option provides a more affordable option to help clients with a restricted budget
  • Rehabilitation Support Service at no extra cost
  • Improved and competitive pricing across all occupational classes
  • Our plans now allow clients on non-standard terms to have an increasing benefit
  • Access a range of resources and tools to help you provide further support for your clients

 

Helping to protect your clients’ income and lifestyle’

30% of employees in the UK don’t have any financial back-up plans, if they were affected by long-term illness, disability or loss of salary.

The average UK employee has enough savings to last just 32 days if their income stopped.

If your client doesn’t review their plan regularly, there could come a time when their cover is not enough to meet their needs.

  • The monthly benefit we pay out under your client’s plan may affect their claim to benefits paid out under other income protection plans.
  • Tax laws may change which could affect the monthly benefit your client’s plan pays out.
  • This product does not include unemployment cover and therefore will not pay out if your client becomes unemployed.

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Disclaimer

This website is designed to give professional financial advisers information and tools that they can use to help control and develop their business and should not be relied upon by private investors or any other persons.