Income Protection

Which would you rather lose: Your home or your mortgage payments?

Have you ever considered what would happen if you were unable to work due to illness or an accident? Not many people have, and that is why Income protection is one of the least known insurance policies.

Having an Income Protection policy would ensure that you would be able to keep up payments on your home and daily living expenses if you were incapacitated. Proactive Medical & Life have developed key relationships with major insurers to offer you the right policy that will help relieve the stress and worry if you are unable to work.

All pay-outs for income protection are tax free and usually continue until you recover or you reach your selected pension age or ceasing age of the policy. This can be anything up to three-quarters of your normal wage, less any state benefits you may be entitled to.

"Make sure you’re protected against loss of income through injury, disability or illness."

Unfortunately in some circumstances it is unlikely that your employer will pay you a salary forever. For those who are self employed you may find yourself without any income at all! Government benefits are unlikely to match any past earnings which could leave you with a shortfall on your monthly expenses.

Or you could try something that suits your time frame

Accident Sickness and Unemployment Policy
A short term payment option.

This type of contract is a short-term protection scheme which can protect you and your dependents from experiencing financial difficulties as a result of an accident, sickness or redundancy which will prevent you from working. You can rest assured that your monthly payments will protect your vital outgoings e.g. your mortgage, credit cards, bills and basic expenses.

This cover would pay you out a monthly benefit to cover your mortgage and other related costs. You may choose the amount of benefit you would like to receive - although there are some limits on the maximum amount. There are deferment periods associated with this type of policy. If you are looking for a product that pays out longer than 12 months you may need to look at income protection.