About Income Protection That Covers Sickness
Income Protection that covers sickness is an effective way to cover any loss of income should you be unable to work due to sickness. The policy is designed to protect a percentage of your income if you are unable to work as a result of sickness. If a claim is to be made, the policy will pay out a weekly or monthly fee, tax free to help you financially while you are unable to work.
This policy comes with a waiting period before payments can be released following a claim. The longer the agreed waiting period, the lower your premium will be.
This cover will give you peace of mind knowing that should you be unable to work for a period of time due to sickness, all your bills and any other financial commitments can still be paid- so why not consider Income Protection today?
How Does It Work?
Income cover for when you are sick or suffering illness
Income Protection that covers you for sickness is a policy that protects part of your income should sickness prevent you from working. The policy also protects you if you become unemployed or are unable to work due to a disability. If you found yourself in a powerless position and are unable to work due to sickness this policy will ensure you can still pay your bills and you can still have a regular income.
If the policy holder submits a claim, a fixed fee will be released which would be tax free on a weekly or monthly basis. The monies will only be paid to the policy holder once the waiting period has come to an end, this waiting period is often referred too as the deferred period.
There are a wide range of features that come with Income Protection that covers sickness, and here are the key features:
- The policy helps to protect you and your salary financially as a percentage of your income will be covered by a tax free payment on a weekly or monthly basis
- The payments received by the policy holder will be made regularly providing the premiums are paid regularly
- There are policy options available to ensure you have insurance in place to suit your needs, and these are: Guaranteed policies, age related policies and re-viewable policies
What Are The Benefits?
There are a multitude of benefits available with this policy and these include:
- Claims can be made as many times as the policy holder requires
- The payments would be paid tax free and on a regular basis
- There are numerous policy options available to you. This will ensure the policy you have in place gives you the protection you need
- Full confidence in the policy because the cover will be in place for the duration of the agreed term and you will be completely covered providing the premiums are paid regularly
- Peace of mind because your income is protected if you are unable to work which means you can still pay those all important bills