What is Income Protection Insurance?
Each year 1,000,000 people in the UK find themselves unable to work due to a serious illness or injury (ABI 2017). Without some form of insurance, many people find themselves in financial trouble at a time when they are least able to cope with it. For most people, a sudden and total loss of earnings for any length of time would create a great deal of stress and hardship.
Income Protection Insurance is an insurance policy designed to help you if you can’t work because you’re ill or injured. It ensures you continue to receive a regular, tax free income until you retire or able to return to work.
The typical income you would receive is 60% of your gross earnings in the year before your incapacity. This is to prevent you becoming financially better off by receiving the policy benefit rather than working!
Income Protection plans come with, what is called, a “deferred period”. This is the length of time between becoming incapacitated and receiving the benefit. The longer the deferred period, the less the premium would be. You would generally set payments to start after any sick pay ends.
You are able to claim as many times as you need to within the policy term. If you go back to work but then “relapse” with the same condition, the deferred period would be waived.
Client Testimonials
Being self-employed with no benefits I was worried about myself and my family if anything happened to me or I was unable to work.
Shaun meets with us every year and talks through the policies we have.
Gareth Yandell
Being self-employed I simply do not have the time to research the protection available for me and my business.
Shaun comes to our home and we go through my options.
When he returns with his research, I understand the cover and cost which is important to me.
Reason: Both directly reference self employed protection and income risk.
Dale Moore
Contact Details
St Swithin’s Park,
Almondsbury,
Bristol,
BS10 7TP
We are situated in The Bristol Golf Club, off Junction 21 along the M5, near to The Mall at Cribbs Causeway.
Free parking and a warm welcome is always assured.
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A referral remains the highest compliment we can receive. If you have family or friends that could benefit from our advice, we would be grateful for the introduction. Thank you.
Pure Protect Bristol is a trading name of Shaun Bond who is an Appointed Representative of PRIMIS Mortgage Network, a trading name of TenetLime Ltd. TenetLime Ltd is authorised and regulated by the Financial Conduct Authority. Registered office, St Swithins Park, Blackhorse Hill, Almondsbury, Bristol, BS10 7TP. Principal Shaun Bond