Income Protection Insurance

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If you're unable to work because of illness or injury, under an employers group sickness scheme (Group IPI) salary is continued but is subject to tax and NI in the usual way.

The maximum amount of income you can replace through insurance is broadly the after-tax earnings you have lost, less an adjustment for state benefits you can claim. As with all insurance, it is important that you have the right type of policy which provides all that you need it to do for you.

Long-term income repayment policies usually come into play between the time when your employer stops paying sick pay, and when you collect your pension.

Shorter-term policies tend to be used to protect a mortgage, bank loan or other payment. These usually commence within a few weeks but stop entirely after 12 months or 24 months. Short-term policies often include unemployment and redundancy, unlike longer-term income protection cover which does not .

Income Protection Insurance only applies to products which pay you an income if you become unable to work due to sickness or injury. Policies to protect mortgages, loans or credit card debts are often called Accident Sickness Unemployment (ASU) policies.

We will happily explain this in more detail to you.

THERE ARE OTHER PROVIDERS OF PAYMENT PROTECTION INSURANCE [Short-Term Income Protection] AND OTHER PRODUCTS DESIGNED TO PROTECT YOU AGAINST LOSS OF INCOME. FOR IMPARTIAL INFORMATION ABOUT INSURANCE, PLEASE VISIT THE WEBSITE AT www.moneyhelper.org.uk.

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Testimonials

What were the circumstances that caused you to look for a financial adviser?

Purchase of first property

How did Basma Mohamed help you?

Excellent support for any home buyer! Friendly, knowledgeable, efficient with the client’s best interest at heart. Highly recommend Basma and her services!

Have you seen the outcome you were hoping for?

As far as Basma is concerned, yes. Sadly, the seller changed his mind - which means we hopefully will be back soon once we found a new property.

Review from verified client

What were the circumstances that caused you to look for a financial adviser?

Me and my partner were thinking of buying a property and as first time buyers, we needed someone to advise us on the process and find us the best mortgage for our money.

How did Basma Mohamed help you?

Basma was always on hand to help whenever we needed it, whether it be just a simple question or more complex issues that needed to be dealt with. She helped navigate us through the whole process of buying a property and sorting our insurance cover on top of this - the whole process couldn't of been smoother!

Have you seen the outcome you were hoping for?

Yes

Review from verified client

What were the circumstances that caused you to look for a financial adviser?

I was made redundant on my previous job. I wanted to have abit of security so I looked into income protection, incase it happens to me again.

How did Basma Mohamed help you?

Very professional Firstly I wanted to say thank you for sorting out my Income protection. I had a great experience, the process was very smooth and had no problems at all. I definitely will be recommending Mortgage Theory to anyone.

Have you seen the outcome you were hoping for?

I've very happy with the outcome.

What could they have done better?

Basma has found me the best protection to suit me.

Review from verified client

Please provide a brief comment about your experience with Basma

Best way to explain my experience with Basma is through.....she understands the tricky market conditions and provides clear and concise advise easy to absorb.

First impression from a user who is not yet a client

Please provide a brief comment about your experience with Basma

Basma is a true professional. Always exceeding my expectation. If you want peace of mind professional service, she is the one. I will use her services for life. Will never leave her.

First impression from a user who is not yet a client

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Income Protection Insurance

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