David Allan

Expertly compared by David Allan

Products Updated June 5, 2018

Income Protection For Builders

Being a builder often means you have long term projects and short term projects on the go at the same time, but what happens if you become ill, have an accident and can’t work for a period of time? Income Protection can provide you with financial stability when you’re unable to work.

2 providers expertly compared:

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All credit types
Rated 4.8/ 5

Lifes Great Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Provider
Lifes Great

Products
Income & Life Protection

speciality
Income Protection

Lifes Great is an online financial advisor that can quickly find you the best income protection quote from a wide range of provides in the market place. Simply get a quote for a personal illustration.

2 providers expertly compared:

Available via broker only
All credit types
Rated 4.7/ 5

Aviva

Provider
Aviva Income Protection

Products
Income & Life Protection

speciality
Income Protection

When unexpected things happens, we know that what matters is having peace of mind from a policy you can trust. Aviva's Income Protection cover is very straightforward, simple to arrange and is individual to you and your families needs.

Income Protection For Builders

Income Protection for builders is a helpful tool to have for anyone especially builders. Being a builder often means you have long term projects and short term projects on the go at the same time, but what happens if you become ill, have an accident and can't work for a period of time? Your cost could spiral, leaving you paying bills but on a lower wage. This policy is designed to help cover and protect a percentage of your salary.

Income protection that covers builders

Income protection that covers builders

You will receive a specified regular payout that will replace your loss of earnings should you be unable to work for a period of time. The policy will support your income and can be put in place to begin once any other policy or sick pay expires- Consider an Income Protection policy today.

How Does It Work?

If you are a builder and unable to work due to sickness, ill health or an injury as a result of an accident, this policy will provide you with cover you require by protecting and replacing a percentage of your income. While you are unable to work, a claim can be made and as soon as the agreed waiting period known as the deferred period has come to an end you will the receive a regular tax free payout. The longer the deferred period, the lower your premiums will be. The benefit amount released will continue regularly until you are well enough to return to work, you retire, the policy expires or you pass away. However a claim can be submitted multiple times as the policy holder sees fit providing the claim is valid.

The Features

There are a wide range of features available with Income Protection for builders, and these include:

  • Your salary/income will be protected
  • You will be covered if you are unable to work due to sickness, ill health or involuntary redundancy
  • The policy will give you financial support while you are unable to work to ensure your bills are covered
  • Once the deferred period has ended you will receive regular tax free payments
  • There are other policies available to ensure you have the right cover to suit your circumstances, and these include- Age related policies, guaranteed policies and re-viewable policies

What Are The Benefits?

There are a wide range of benefits available with this type of cover and these include:

  • There are optional policies available allowing you to choose the cover that suits your needs
  • Once a claim has been made you will receive a regular tax free payment
  • A claim can be submitted by the policy holder as many times as they wish providing the claim is valid
  • Financially supported by the policy as you will receive a tax free benefit amount regularly
  • You can have total confidence in this cover as the policy will remain in place for as long as you like
  • Peace of mind for you to have the knowledge that your bills and outgoings are covered

 

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