The policy acts as a financial safety net and replaces part of your income should you be unable to work through ill health or a disability. Income protection insurance will provide you with a payout while you unable to work, up to the point when you are well enough to return to a working environment, you retire, your policy expires or if the worst were to happen and you were to pass away.
If you find yourself in the unfortunate position of no longer being able to work, Income Protection Insurance will provide you with the cover you need. The majority of policy holders set up a payment order to begin when their sick pay comes to an end or when any other cover/insurance policies expire which result in you being financially vulnerable.
Unlike other forms of insurance, when you put income protection insurance in place you can submit a claim as many times as you wish. Payments will only be made if valid reasons are given and you have the right cover in place – so consider taking out an income protection policy today.