Income Protection For Accountants
If you are employed as an accountant and are unable to work there would be a period of time where you could claim sick pay so your salary would remain unchanged. However, there will come a time when you are unable to work due to sickness, ill health or injury and sick pay alone wouldn’t cover you long term and this could leave you in a vulnerable position financially. This is where Income Protection will become an important tool for you. With this cover you will be able to concentrate on your recovery as you will not have to worry or stress about loss of income as this cover will ensure that a percentage of your salary is protected. You can also rest easier as the benefit amount paid to you regularly will continue up to the point where you are well enough to return to work.
Income Protection for accountants will protect and replace a percentage of your salary if you become unable to work due to sickness, ill health or injury. With this policy it is also possible to cover yourself during period of unemployment. The duration of the policy is up to you with long term protection or short term protection available depending on your requirements- Why not consider an income protection policy today.
How Does It Work?
If you have Income Protection in place and are unable to work due to sickness, ill health or injury you will be completely covered. Some people will put income protection in place to follow sick pay or any other insurance policy once it has expired to minimise their financial vulnerability. Once a claim has been submitted there will be a waiting period referred to as the deferred period. The longer the deferred period, the lower your premiums will be. When the deferred period has come to an end, the benefit amount be released to the policy holder. You will then receive a regular payment that is tax free. The payment will continue until you are fit enough to return to work, you retire, the policy expires or if you were to pass away.
There are many features that come with Income Protection for accountants, and these include:
- You and your income will be protected if you are unable or unfit to work for a period of time
- The policy will provide you with financial support for the required duration
- You will have regular payments that are tax free
- There are a number of different policies available, and these are- Guaranteed policies, age related policies and re-viewable policies
What Are The Benefits?
There are a range of benefits available with this type of policy, and these include:
- A range of policies available to ensure you have full coverage to suit your needs
- Peace of mind knowing that your bills and any other payments are covered
- Financially safe as the policy provides a tax free benefit payout to help with loss of earnings
- The benefit amount will be paid on a regular basis
- You have total confidence in the policy as this will be in place for as long as you require
- Claims can be made as many times as you wish