Personal, Executive or Group Income Protection provides individuals and companies with a method of ensuring that if they or Employee or Director is unable to work because of Accident, sickness or Disability then an income is provided either up to the age of normal retirement or for a set period.
Many employers provide some sort of short-term benefit in the event of employee accident or sickness, and the State provides Incapacity Benefit, but neither option will offer much compensation to you or your Directors or Employees, if they are on long term sick leave.
Personal, Executive or Group Income Protection will pay out a guaranteed level of income every month for the full term of the policy (potentially up to retirement age) provided incapacity continues. For Long term payments the maximum monthly benefit payable can be a maximum of 50-80% of a person’s annual income depending on the insurer and type of cover. Or we can also protect ‘lost profit’ for shorter payment periods.
These types of policies will allow you to make several claims so long as the circumstances are legitimate. The monthly payments can be index-linked to that they keep pace with inflation and the rising cost of living.
Income Protection is one of the most important insurances for Individuals, Directors and Employees families, and yet it remains one of the most over-looked.
Tel: 01773 771380
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