Frequently asked questions about Income protection

People tend to insure the important things in their lives, they insure their property, their car, their holidays and their lives but the one thing people forget to insure is what pays for everything, their income.

What is Income Protection?

Income Protection, also known as Permanent Health Insurance (PHI) provides a tax free income if you are unable to work through illness or disability and can be up to your retirement age.

How much cover do I need?

Companies vary on the maximum cover you can take from 50% to 65% of your gross income. The benefits are paid free of tax so the actual drop from your earned income will not be as drastic as it appears. If you need help in calculating how much cover you need please contact one of our trained advisors to discuss in more detail.

How much will it cost me?

The actual price will vary from company to company but you can input your details and obtain your free quote today by clicking here.

What is the difference between mortgage protection (Accient Sickness Unemployment) and income protection (Permanent Health Insurance)?

Mortgage protection (also known as Accident Sickness & Unemployment [ASU] cover) will cover a proportion of your income for a shorter term, i.e. up to 2 years and is used mainly to protect your mortgage payments. Income protection is used as a longer term product, insuring your income upto retirement age.

To get an ASU quote click here or to get an Income Protection quote click here