About Long Term Income Protection Cover
Long term income protection will give you that financial safety net by safeguarding your salary and replacing a percentage of this to give you peace of mind. If a claim is made by the policy holder the monies will be paid out after an agreed waiting period known as the deferred period ends. A claim can be submitted as many times as the policy holder wishes providing the claim is valid- Do not underestimate the importance of Income Protection.
The policy will provide you with financial protection to ensure you can still pay your important bills such as your mortgage and any other debts you may have.
How Does It Work?
Income protection for the long term
If you have this policy in place and you become unable to work due to ill health, an accident resulting in an injury that prevents you from working or involuntary redundancy you would be completely covered. You would then receive a benefit payout tax free on a regular basis as agreed. The benefit payout would only be released once the waiting period known as the deferred period has come to an end. The premiums are based on the duration of your deferred period, but you can claim as many times as required.
There are numerous features with long term cover Income protection, and these include:
- You will be financially covered should you be unable to work due to ill health, sickness or unemployment
- The policy provides you with a tax free regular payment if you are unable to work or find yourself out of work
- A number of policies available with a wide range of cover to suit your circumstances , and these are- Age related policies, guaranteed policies and re-viewable policies
What Are The Benefits?
There are a number of benefits at your disposal with this policy, and these include:
- Peace of mind for the policy holder because all bills and any other payments can still be paid regularly
- Numerous policies are available which ensures that you have the right policy to suit your needs
- A claim can be made as many time as the policy holder wishes
- The benefit payout will be paid on a regular basis , both weekly or monthly
- Full confidence in the policy as the cover will continue for as long as you require providing the premiums are paid
- The benefit payout is made tax free to the policy holder after the deffered period has come to an end