Income Protection Cover

What is Income Protection Insurance?

Income protection insurance is essentially an extension of, or provider of, sick pay where your current employee benefits do not provide a mid to long term solution. It is paid monthly, tax free and can be arranged on a short term basis or long term basis should you never be able to return to work. You can still have income protection cover if you are self-employed, however you need to give careful consideration to your role and how an accident or sickness would impact your ability to earn.

Things to Consider:

Do you get sick pay from work?
Do you have savings or family you could rely on if you were off sick?
How much would you need to live off each month?
Could both of you still work if someone was off long term?
Does your income fluctuate?
Do you receive stepped benefits such as 6 months full pay then 6 months half pay?

Benefits of Using J&M Green Mortgage Services:

We will talk you through all the options available and ways to arrange income protection insurance so we can tailor it specifically to your needs and circumstances.

We will arrange your cover on an ‘own occupation’ basis rather than ‘any occupation,’ to ensure that if there is any accident or sickness the prevents you from doing your specific job the cover will be in place, rather then you needing to find a new job elsewhere.

With certain professions such as NHS workers and teachers with stepped benefits, with some providers we can opt for a 12 month deferred period and the cover will still pay out as soon as you drop to half pay which will make the premiums cheaper for you overall.

If your income fluctuates, we can assess the maximum cover amount available for you, or opt for a policy that has guaranteed monthly payout amount so you can be sure you will have a fixed amount each month even if your income at the time doesn’t support the claim.

We will show you the maximum level of cover you could have, and work backwards from that to find the right amount you would need and that is affordable.

If you have stepped benefits from work, we can tailor your cover so part pays out when your sick pay drops, then the other part/s payout when your sick pay from work stops to keep the cost down.