Income protection

By Oliver Suter DipPFS, financial adviser

Investment solutions group photo

An estimated 185.6 million UK working days were lost because of sickness or injury in 2022, the highest figure ever. Although we don’t like to think it will happen to us, you can insure against the financial repercussions of long-term sickness or injury.

Income protection insurance provides regular income payments if you are unable to work due to illness or an accident. The payments continue until you retire, die or the end of the policy term. Policies typically pay between 50-65% of your income and multiple claims can be made during the term of the policy. The cost of these plans will depend on your age, occupation, health, and the deferred period.

Many assume that their employer will offer income protection, but many employees are moved to Statutory Sick Pay within 6 months.

If you are looking to create an income protection

Please note that individual circumstances apply, you should ask for a personal illustration.

‘Investment Solutions’ is the trading name of Investment Solutions Wealth Management Ltd who are authorised and regulated by the Financial Conduct Authority.