Protect yourself and you family with income protection insurance.

We can all plan for the future but there may be a time in your life where you encounter an illness or an injury where you can no longer assure yourself and your family with the financial security that you need. For most of us, the concern of what may happen financially should we suffer illness or perhaps an injury at work can be a load to bear. Should you find yourself in such an unfortunate position where you can no longer work due to sickness then you need to look into income protection.

There are a number of plans available on the current market, all of which can be tailored specifically to suit your occupation and financial situation. Generally speaking, most plans offer a three quarter of the wage you would be awarded with state benefits.

Perhaps you are self-employed and are concerned that you may not qualify. Think again, you can be given that assurance you need for pretty much any occupation. Your cover will just be assessed in a slightly different way. If self-employed and choosing to take up income protection then your specific insurance plan will be customised and based on your taxable income at the time of taking out the policy. Furthermore, most self-employed workers are not entitled to the usual type of sickness pay that others would receive.

The fantastic plus point of taking out income protection cover is that any payout that you receive is completely tax free, and on top of this, many plans will see customers through into retirement age, or the specified pension age outlined in the cover.

As with any cover, there can be positives and negatives with any plan. Though, when selecting income protection the positives by far outweigh the negatives. For anyone dependent on wages to pay bills and rent, which is basically the majority of us, it really does provide a fantastic sense of security.

The standard payment from income protection will commonly float between fifty and seventy-five percent. The cost of monthly premiums will be dependant on a number of factors. These include what kind of occupation you have, your age and current health status. Such cover will also take into consideration factors such as whether you are a smoker.

If you are a smoker then it makes financial sense to give up. By doing so your health will improve and the risk of cancers and heart disease will reduce. In addition, should you choose to give up smoking then this can dramatically alter the price of your income protection premiums or in fact any kind of personal or home insurance.

When contemplating any form of income protection you need to be sure to seek experienced and professional guidance as the premiums and policies can greatly vary depending on your circumstances. You need to ensure that you are receiving the best possible policy to pay the best possible premiums and the most advantageous cover possible.

When considering income protection you have the option of picking from short term or long term cover. Furthermore, your policy can be catered to your individual specific circumstances, which in turn can be altered and adjusted either at the time of the purchase or even during the term of the cover. The monthly premiums that you pay can be reviewable should you choose. This means that the company you have your cover with can review the monthly premiums and these can then be altered. That is, increased, decreased or remains the same. This commonly takes place roughly every five years. This form of reviewable premium is often less expensive than a guaranteed one.

Income Protect work with many of the leading insurers who offer income protection so that they can find you the most affordable policies available.