Income Protection Made Simple
Income Protection Made Simple
It's quick and easy; simply complete the form and a Income Protection adviser will walk you through your options. We Provide Free impartial advice advice.
An Income Protection policy can:
- Provide a regular monthly or weekly tax free payment
- Replace up to 70% of annual income
- Provide short and long term financial support
- Cover regular bills and expenses
- Give you 24/7 GP, Medical & Mental Health Support
Have financial security should you be unable to work
What is Income Protection?
Income Protection Insurance (also known as Permanent Health Insurance UK cover) is an income insurance policy that provides a Tax Free Income to help protect your salary if you are unable to work through accident, illness or injury to help cover your regular bills & outgoings, should the worst happen
5 Most common reasons why you may be out of work *
- Mental Health
- Musculoskeletal
- Cancer
- Neurological
- Heart Condition
FAQ'S
- Income protection covers most physical, accidental or mental health illness that mean you cannot work
- It pays out also if you had an accident, injury or hospitalised – your bills insurance back up
- If hospitalised, some insurers may also pay you £100 per night upto 3 months & after 6 nights
- ‘Income Protection Insurance UK’ plans may also include Fracture or Trauma benefit that pays various lump sum amounts
- Death benefits (if included) may just mean a lump sum sufficient for funeral costs or return of some premiums
- It does not usually cover unemployment or redundancy, unless this is due to incapacity
- Some Insurers may reduce uk income protection insurance cost benefits if you get any means tested State benefits
- NO, if its personal cover
- Personal PHI income protection monthly payments are currently free from UK taxation (Tax rules may change)
- As you have paid from your net income after tax (not gross), so the tax rules could deem it unfair as effectively already been taxed
- PHI insurance premiums must be paid from your own personal account (not paid by a business)
- Some personal PHI plans may include a death lump sum. If paid this may be subject to UK inheritance tax, dependant on personal circumstances
- YES, if it’s only business based cover
- HMRC may only grant business owners or company corporation tax relief on these business income protection premiums ie; benefits are paid PAYE
- Premiums are then treated as a tax-deductible business expense to the employer. This cost is deducted from profits of their business
- Income protection payments paid on claim to a contractor will then be treated as income
- If your protection income insurance plan is part of a group PHI scheme, the employer gets benefits tax free but then PAYE tax is on your claims paid
- Business Executive Income Protection is similar with PAYE tax paid on your claim payments
- ‘Are income protection premiums tax deductible? YES, often if it’s business related coverage
Policy Example:
5 Reasons Why you may need Insurance Income Protection:
- Government Sickpay – is less than £110 per week for upto 28 weeks
- Work Sickpay – often paid for less time than you think
- Your Savings – may last a few months & helps protect credit history
- Your Outgoings – Bills & Expenses do not suddenly stop, if you stop
- We are Human – so the ‘Money Making Machine’ can break down
0
✅ Policies written to date
What is Income Protection?
PHI Insurance (also known as Permanent Health Insurance UK cover) is an income insurance policy that provides a Tax Free Income to help protect your salary if you are unable to work through accident, illness or injury to help cover your regular bills & outgoings. It’s important to protect yourself and your business should the worst happenunforseen happen.
5 Most common reasons why you may be out of work *
- Mental Health
- Musculoskeletal
- Cancer
- Neurological
- Heart Condition
Policy Example:
FAQ'S
- Income Protection covers most physical, accidental or mental health illness that mean you cannot work
- It pays out also if you had an accident, injury or hospitalised – your bills insurance back up
- If hospitalised, some insurers may also pay you £100 per night upto 3 months & after 6 nights
- ‘Income Protection Insurance UK’ plans may also include Fracture or Trauma benefit that pays various lump sum amounts
- Death benefits (if included) may just mean a lump sum sufficient for funeral costs or return of some premiums
- It does not usually cover unemployment or redundancy, unless this is due to incapacity
- Some Insurers may reduce uk income protection insurance cost benefits if you get any means tested State benefits
- NO, if its personal cover
- Personal PHI income protection monthly payments are currently free from UK taxation (Tax rules may change)
- As you have paid from your net income after tax (not gross), so the tax rules could deem it unfair as effectively already been taxed
- PHI insurance premiums must be paid from your own personal account (not paid by a business)
- Some personal PHI plans may include a death lump sum. If paid this may be subject to UK inheritance tax, dependant on personal circumstances
- YES, if it’s only business based cover
- HMRC may only grant business owners or company corporation tax relief on these business income protection premiums ie; benefits are paid PAYE
- Premiums are then treated as a tax-deductible business expense to the employer. This cost is deducted from profits of their business
- Income protection payments paid on claim to a contractor will then be treated as income
- If your protection income insurance plan is part of a group PHI scheme, the employer gets benefits tax free but then PAYE tax is on your claims paid
- Business Executive Income Protection is similar with PAYE tax paid on your claim payments
- ‘Are income protection premiums tax deductible? YES, often if it’s business related coverage
5 Reasons Why you may need Income Protection Insurance:
- Government Sickpay – is less than £100 per week
- Work Sickpay – often paid for less time than you think
- Your Savings – may last a few months & helps protect credit history
- Your Outgoings – Bills & Expenses do not suddenly stop, if you stop
- We are Human – so the ‘Money Making Machine’ can break down
0
Policies written to date
We Search The Whole Of Market
Testimonials
"Very helpful and competitive price. Explains in detail what is best for you and how does it works. Very pleased. Strongly recommended."
Aidan - Business Owner
"Wonderful company would highly
recommend. The young man I spoke to talked through everything thoroughly & made me feel very assured. Thank you."
Ariana - Company Director
"Thorough, professional and personable. Have more affordable, appropriate cover in place for our family now."
Bethany - Law Firm Partner
"Very helpful and competitive price. Explains in detail what is best for you and how does it works. Very pleased. Strongly recommended."
Aidan - Business Owner
"Wonderful company would highly
recommend. The young man I spoke to talked through everything thoroughly & made me feel very assured. Thank you."
Ariana - Company Director
"Thorough, professional and personable. Have more affordable, appropriate cover in place for our family now."
Bethany - Law Firm Partner
Protect your life and your family today
Free Impartial Advice
An experienced Income Protection Advisor can discuss your personal requirements, with no commitment or obligation required.
Professional Team
Our team of professional advisors are there to answer any of your questions as well as discuss the right policy for you. No fuss, straight talking facts and figures
Easy Application
Request more information by filling out our contact form. From here, you can arrange a telephone consultation with our Insurance experts, at a time that suits you.
Busy Schedule? Request a call back at a time that suits you
Your Protection acts as an introducer to an appointed representative. We do not provide any financial advice and will only pass on enquires to a third party who will discuss the various financial services available.
* Statistic taken from the Aviva 2022 claim report
We will search the whole of the UK market to find you the best Business Insurance rates.