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Income Protection

Income Protection is a vital cover that provides a percentage of income replacement when you are unable to do your job through illness. Income Protection can provide a monthly benefit that is free of income tax and can be paid all the way through to state your anticipated retirement age, death or return to work.

Mortgage Advice Centre recommends that every adult with financial responsibilities should have this cover whether they have a mortgage or not. As part of our financial and protection review, our advisors identify any shortcoming in your personal and employment benefit and will offer you a solution to plug those gaps.

How much benefit can I receive?

Mortgage Advice Centre offer advice on Income Protection from a wide panel of famous UK insurance providers.  The maximum level of cover ranges from around 60-65% of the first £30,000 earned income per annum plus 50% of anything above this.  No insurance company pays you a full salary whilst you are ill as there will be no incentive to get better and return to work.

The benefit is paid monthly and depending on the agreed terms in your policy, can start paying from between week 4 and week 52 of making your claim. Our advisors seamlessly blend your work sick pay arrangements with our Income Protection package to drive down the cost of the premium for you. In short, if you are entitled to 6 months sick pay through your employer, we design a policy with a 26 week waiting period so there is neither overlap, nor deficits in your protection.

To obtain the right Income Protection tailored for your circumstances, contact us right away and we will arrange a face to face or telephone appointment at your convenience.

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