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"If you can’t work, you can’t earn" – unless you have Income Protection!
Life is full of uncertainties, and unexpected events can disrupt even the best-laid plans. Imagine being unable to work due to an illness or injury, with no steady income to support yourself or your family. This is where Income Protection Insurance comes to your rescue.
People in permanent jobs have the benefit of receiving sick pay. As a business owner, self-employed professional or a contractor, you don’t have this luxury which is why it’s so important to have Income Protection. It gives you the peace of mind that if you become ill, you’ll be paid a regular wage so you can look after the bills until you’re well enough to return to work.
What is Income Protection Insurance?
Income Protection Insurance is a crucial financial safety net designed to replace a portion of your income in case you are unable to work due to illness or injury. It provides you with peace of mind and financial security during challenging times, ensuring you can focus on your recovery without worrying about how to make ends meet.
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Choose a policy
You choose a policy that suits your needs
2.
You're unable to work
You may become disabled and are unable to work
3.
Funds Paid out
Benefits are then paid out to you on a regular basis, providing a percentage of your pre-disability earnings for a specified benefit period.
Who Needs Income Protection Insurance?
Salaried Employees: To protect their primary source of income.
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Self-Employed Professionals: Who may not have access to sick leave or disability benefits.
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Business Owners: Ensuring financial stability for both themselves and their ventures.
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Parents and Caregivers: To secure their family's well-being.
What can I use the payout for?
Peace of Mind
Knowing that you have a safety net to fall back on provides peace of mind for you and your loved ones. You can focus on recovery without the added stress of financial uncertainty.
Tailored Coverage
Income protection insurance is designed to be flexible and can be tailored to your unique occupation, lifestyle, and income level, ensuring you get the coverage that suits you best.
Financial Security
Having a reliable source of income during periods of disability ensures you can cover essential expenses, such as rent or mortgage payments, medical bills, and daily living costs.
Tax Advantages
Depending on your country and local regulations, income protection insurance may offer tax benefits, making it an even more attractive choice for protecting your financial future.
Income protection VS Critical Illness cover
What is the difference?
The key difference between the two types of insurance is the trigger for the payout:
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Critical Illness: Payout is triggered upon diagnosis of a specific critical illness covered by the policy, regardless of whether you are able to work.
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Income Protection: Payout is triggered when you become disabled and unable to work, ensuring a replacement income during the period of disability.
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Critical illness protection provides a financial buffer when you are diagnosed with a severe illness, while income protection safeguards your financial well-being when you are unable to earn a regular income due to disability.
Why choose PJN Billings ?
Tailored Coverage Options
By paying for life insurance through your business, you can reduce your personal outgoings by hundreds if not thousands of pounds per year.
Industry Expertise
With our extensive experience in the insurance industry, we understand the complexities and nuances of building and contents insurance. We use our expertise to guide you through the process and provide informed advice.
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Effortless Claims Process
In the event of a claim, we strive to make the process as seamless as possible. Our efficient claims handling ensures quick resolution, helping you get back on your feet without unnecessary delays.
Excellent Service
Competitive Pricing
We offer competitive and transparent pricing, ensuring that you receive the best value for your insurance coverage without compromising on the quality of protection. Our aim is to provide affordable and reliable insurance solutions.