We cannot predict what is going to happen in our lives. All too often it is possible to forget that if we cannot work due to sickness or an accident the bills still have to be paid. Many employers do not cover your income in the instance that you are off work sick. In circumstances where employers do agree to pay your wages there will almost certainly be restrictions on the duration of payment and the amount of money paid.
We can advise you on a range of payment protection plans including Income Protection Plans which cover your salary or specific payments such as your mortgage/rent in the event that you were off work with ill health. These plans can prove crucial if you are self-employed and can provide cover up until your retirement age if this is needed.
Income Protection plans have no cash in value at any time and will cease at the end of term. If you stop paying your premiums your cover may end.