Income Protection is designed to provide a tax free income in the event that you are unable to work due to illness or injury. There are maximum limits with regards to the amount of cover you can obtain in proportion to your earnings. The level of premium will depend upon the benefit, term and deferred period selected.
Most policies cease to pay the benefit once you are able to return to work. Income Protection policies are usually written to your chosen retirement age, meaning your income will be covered even if you are never able to return to your occupation.
Income Protection is particularly useful for self employed individuals to protect their income in the event of long term illness, and for employed people whose income is not protected via their employment contract.
The level of premium for the required amount of cover will depend on the type of plan and the company chosen. Some companies offer guaranteed fixed premiums whilst others offer reviewable premiums.
HCR have a dedicated team of Independent Financial Advisers (IFA) who can ensure you are receiving the right financial advice and the highest standard of service.
For a free consultation to discuss your Income Protection Insurance requirements together with any other financial needsContact Us today
"We would like to thank your company for safely handling our finances over the years and thereby giving us a creditable return on our initial outlay. Thanks to you all we will now have a far more comfortable retirement. We would have no hesitation in recommending your services to others."
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