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Income Protection

What is it?

  • If you are in full time employment or self-employed you should consider the benefits of a redundancy cover plan.
  • We are all vulnerable to the potential of involuntary redundancy and having 'a job for life' is not guaranteed
  • For your own peace of mind consider how to minimise the possible financial impact of such an important event.
  • This policy will pay out after a set period of time, for example between 30 to 90 days after redundancy.
  • A typical plan will allow you to insure up to a certain percentage of your monthly gross earned income.
  • Most policies will pay out for up to 12- 24 months, or until you return back to work.

Who is it for?

  • This type of plan can be taken by anyone who is employed or self-employed.
  • In the event of involuntary unemployment, Income Protection redundancy cover can provide a monthly tax free amount that can be used to help you manage your financial outgoings.
  • This plan gives you peace of mind in knowing that you are still receiving an income even when yours has ceased due to involuntary unemployment.
  • Income protection plans that have no investment link have no cash in value at any time and will cease at the end of the term. If you stop paying your premiums your cover may end.

We at Homestraight Mortgages Limited can offer our services through our advisers who can assist & help you find the best plan which meets your requirements.