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Income Protection

Planning for the future to protect you and your family.

          - Insurance Mortgage Services Ltd is authorised and regulated by the Financial Conduct Authority. FCA Registration Number 300993. 

Registered Address : Applegarth, The Reddings, Cheltenham GL51 6RL.  Company Registration Number 4496808. 

The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.

Your home may be repossessed if you do not keep up repayments on your mortgage 

 

 

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An Income Protection Policy is one of the most important insurances that you can consider, as without your income, your life style could change dramatically. What would you do if you could not work due to disability or ill health? If you had a reduced income, how would you pay your bills? Could you survive on State Benefit alone?

 

An Income Protection Policy is designed to protect your income if you are unable to work as a result of disability or ill health. Unlike an ASU policy which typically has a maximum term of 1 or 2 years, an Income Protection policy can have a significantly longer term, and typically upon a successful claim would pay out a monthly tax-free income until you recover or until your specified age of retirement after a specified deferment period.

Unlike an ASU policy, Income Protection policies typically do not protect you against redundancy.

 

The maximum cover you can have is typically between 50-60% of your gross income, however, as the benefit is paid tax free, you can replace a high percentage of your income in the event of long term incapacity.