Income protection insurance is designed to safeguard your financial wellbeing if illness or injury prevents you from working. In a time of uncertainty, this type of insurance ensures that you continue to receive a regular income, helping you meet your financial commitments. At GetLifeInsurance, we provide tailored income protection solutions to suit your specific needs, offering comprehensive coverage that guarantees peace of mind for you and your family.
How would you or your family pay for day to day expenses and bills if you didn’t have income coming in each ? Life is unpredictable, and an unexpected illness or injury can disrupt your ability to earn a living. Income protection insurance offers a safety net, allowing you to focus on your recovery without the stress of financial obligations. Whether you’re self-employed or employed, our income protection plans ensure you are covered, so you don’t have to rely solely on savings or state benefits.
Securing income protection is simple and straightforward. Once you choose a plan that suits your income and lifestyle, you pay a monthly premium. In the event that illness or injury prevents you from working, you can claim a monthly income until you are well enough to return to work. The policy is flexible, allowing you to adjust your coverage as your circumstances change, such as a salary increase or a mortgage upgrade.
Lump Sum Cash for your family in provides certainty for your family if the worst were to happen
Pays your mortgage in the event of death – peace of mind knowing your loved ones are secure.
Financial support if you are diagnosed with a serious illness.
Provides income if you are unable to work due to illness or injury.
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Income protection insurance provides a regular monthly income if you are unable to work due to illness or injury. This helps cover your essential expenses like mortgage, bills, and daily living costs during your recovery period.
Income protection insurance ensures financial stability in case you are unable to work due to unforeseen circumstances. It provides peace of mind that your financial obligations will still be met even when you are not earning.
Typically, income protection insurance covers up to 75% of your gross income. This percentage helps ensure that you can maintain your lifestyle and cover necessary expenses while you are off work.
Payments continue until you are able to return to work or until the policy term ends. Some policies offer coverage until retirement age if you are permanently unable to work.
Yes, you can adjust your income protection coverage as your circumstances change. This can include increasing your coverage after a pay rise or reducing it if you need lower premiums.
Yes, income protection policies usually have a deferred period, which is the time between when you stop working and when you start receiving payments. You can choose a deferred period ranging from 4 weeks to 12 months.
Yes, you can receive tax relief at your marginal tax rate for personal income protection policies. For example, if you are a higher-rate taxpayer, the tax relief can reduce the effective cost of your premiums by up to 40%.
Yes, you can cancel your policy at any time. However, it’s important to understand the implications, such as losing coverage and potential fees.
Some pre-existing conditions may be covered, depending on the policy and the nature of the condition. However, you may need to pay higher premiums, or exclusions may apply to certain conditions.
To make a claim, contact us as soon as possible and we will guide you step by step through the process. You will need to fill out a claim form and provide some information to the insurer. The claims process will involve an assessment of your situation to determine the benefits you are entitled to.
The processing time varies but generally takes a few weeks to a few months, depending on the complexity of the claim and the documentation required.
If you miss a premium payment, your policy may lapse after a certain grace period, meaning you would lose coverage. It’s important to keep payments up to date to ensure that your policy remains active and you are protected.
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