INCOME PROTECTION INSURANCE (PERMANENT HEALTH INSURANCE)
Income protection insurance is a long term insurance designed to protect you if you can’t work due to being ill or suffering from an injury. It doesn’t matter if you have any dependants; if you have bills to pay then you should at least have income protection insurance. It will make the difference should you not be able to work.
WHAT DOES INCOME PROTECTION INSURANCE COVER ME FOR?
The insurance will replace a percentage of your income in the event that illness or injury prevents you from working. Income Protection Insurance covers you for a range of illnesses and injuries for a certain amount of time. Most policies cover you if you’re unable to work at your current job, however be advised that not all policies will cover you if you are unable to ever work again.
Depending on your circumstances, some providers will refuse income protection insurance based on your risk factor, for example if you take part in extreme sports, have a dangerous job or are suffering from a current illness. It’s always good to speak with one of our advisersto see whether you can qualify for income protection insurance.
DIFFERENCE BETWEEN INCOME PROTECTION INSURANCE & CRITICAL ILLNESS INSURANCE
Critical illness insurancecovers you for a certain list of serious illnesses where you may not return to work and it is paid in a tax free one lump sum or as a regular income. Income protection insurance covers you for a range of illnesses, injuries and circumstances and is there to replace part of your salary should you not be able to work over a period of time.
If you’re not sure which is the best cover for you, why not speak to one of our advisersfor some no obligation advice today on 01622 692224 .
Core Financial Services Ltd is authorised and regulated by the Financial Conduct Authority member no. 471184. Financial Conduct Authority - http://www.fca.org.uk/
Registered in England. Company Registration No: 5428054. Registered Office: Kings Lodge, London Road, West Kingsdown, Kent TN15 6AR
Please note our telephone number has changed. Any calls made to our previous 0844 number will cost 7 ppm plus your Telecoms provider’s Access Charge