About Income Protection That Covers Bills & Loans
If you choose to have this type of insurance it will protect a percentage of your income which ensures that you are still able to make those all important payments. The claims that are released to the policy holder are made tax free. The payments will be made until you decide to return to work, retire, the policy expires or you pass away.
There is a waiting period known as the deferred period and payments will not be released until this time has passed.
How Does It Work?
Income protection that covers your bills and loans
Income Protection that covers bills and loans works by protecting a percentage of your salary. If you are unemployed, unable to work due to sickness or ill health this policy will provide you with financial cover. The cover will give you peace of mind knowing that you can still pay all important bills such as mortgage costs and any other outstanding loans or debts.
If the policy holder makes a claim then a fixed sum will be paid on a weekly or monthly basis, and it is released tax free. The claim would only be released to you once the agreed waiting period has come to an end.
Income Protection that covers bills and loans comes with a wide range of features. Here are the key features:
- A tax free payment will be paid to you on a regular basis for as long as it is required by the policy holder
- Protects you financially if you cannot work as it helps to cover any bills, loans or debts so your payments can continue unaffected
- You are covered if you become unable or unfit to work due to unemployment or ill health (sickness)
- There are a number of policies available to ensure you have the maximum coverage to suit your needs, here are the policy options- Re-viewable policies, guaranteed policies and age related policies
What Are The Benefits?
There are a number of benefits with this policy, and these are;
- Peace of mind for the policy holder knowing that your income, bills and loans are protected should you be unable to work
- A claim can be submitted as many times as the policy holder wishes
- Cover will continue for as long as you feel you need it providing your premiums are paid giving you complete confidence
- The monies released on a weekly or monthly basis after a claim is made are tax free
- There are a number of policies available to ensure you have the right policy in place to suit your circumstances