Income Protection Insurance
Income Protection is designed to provide a tax free income in the event that you are unable to work due to illness or injury. There are maximum limits with regards to the amount of cover you can obtain in proportion to your earnings. The level of premium will depend upon the benefit and term selected. Most policies cease to pay the benefit once you are able to return to work. Income Protection policies are usually written to your chosen retirement age, meaning your income will be covered even if you are never able to return to your occupation.
Income Protection is particularly useful for self employed individuals to protect their income in the event of long term illness, and for employed people whose income is not protected via their employment contract.
The level of premium for the required amount of cover will depend on the type of plan and the company chosen. Some companies offer guaranteed fixed premiums; others offer reviewable premiums, and some offer the potential to build up a surrender value.
DGS have offices in London, Hertfordshire and the Midlands. We have a dedicated team of independent financial advisers (IFA) and chartered financial planners who can ensure you are receiving the right financial advice and the highest standard of service.
We also hold 'Chartered Financial Planner' status. To find out more about what that means for you, click here.