• COMPANY INFORMATION
  • ABOUT US
  • THE ADVISERS
• CLIENT
  SERVICES
  • INTRODUCTION
  • PLATINUM
  • GOLD
  • SILVER
• INVESTMENT PROCESS
  • RISK PROFILLING
  • ASSET ALLOCATION
  • FUND SELECTION PROCESS
  • ONGOING MONITORING & REVIEW OF FUNDS
  • CLIENT REVIEWS
• PRODUCTS
   
  • MORTGAGES
    • INTRODUCTION
    • RE-MORTGAGES
    • BUY TO LET
  • INVESTMENTS
    • ISA's
    • UNIT TRUSTS
    • INVESTMENT BONDS
    • SCHOOL FEES PLANNING
  • PENSIONS
    • BASIC OVERVIEW
    • PERSONAL/ STAKEHOLDER
    • EXECUTIVE PLANS
    • SIPPS - SELF INVESTED PERSONAL PENSION PLANS
    • SSAS's - SMALL SELF ADMINISTERED SCHEMES
    • COMPANY PENSIONS
    • STATE PENSION BENEFITS
  • TAX PLANNING
    • INCOME TAX
    • INHERITANCE TAX
    • CAPITAL GAINS TAX
  • LIFE/HEALTH INSURANCE
    • LIFE ASSURANCE
    • CRITICAL ILLNESS
    • FAMILY INCOME BENEFIT
    • ACCIDENT, SICKNESS & UNEMPLOYMENT PAYMENT PROTECTION
  • CORPORATE FINANCE
    • INTRODUCTION
    • DIRECTORS PROTECTION SCHEME
    • CORPORATION TAX SAVINGS
    • COMMERCIAL LOANS
    • EMPLOYEE BENEFIT SCHEMES
  • CHILD TRUST FUND
• CONTACT
   
  • HEAD OFFICE
  • THE ADVISERS

Accident, Sickness, and Unemployment Payment Protection

It is all very well to protect yourself from the major catastrophes of life, but how would you pay the mortgage if you were off work for several months, perhaps through sickness or injury? Worse still, you could find yourself made redundant unexpectedly, and you would, of course, still need to pay the mortgage.

Help is at hand, in the form of Accident, Sickness, and Unemployment Payment Protection policies. These pay a monthly income sufficient to cover your mortgage repayments, and are a cost effective and simple solution for most people. However, benefits are usually restricted to a specified level and are only payable for a maximum period, normally 12 months (sometimes 24 months).

Income Protection (also known as Permanent Health Insurance)

We can also arrange cover to provide replacement income when you are unable to work due to long-term sickness or incapacity. The benefits allowable are governed by legislation, but are usually around 50% of your income (as a maximum) before deductions. The benefits are paid tax-free and are in addition to any incapacity benefits that you may receive.

In real terms you will be able to effectively replace most of your lost net income. Benefits are set at the outset to be paid after any sick pay from your employer ceases, and continue for as long as necessary. The actual period before payments commence can range from 4 weeks to as long as two years, with lower premiums payable for the longer periods.

Premiums remain level throughout the term, and will vary depending on your actual occupation and level of income required. For example, you may choose to take less than the maximum benefit, and some companies offer discounted rates in this event.

As with Term Assurances, you can also choose to have benefits index linked to preserve their value in real terms. Please ask for details.  

Contact us today

Robert Douglas Associates LLP is authorised and regulated by the Financial Services Authority.

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