Income Protection

The dedicated financial advisers here at SN Financial Services are ready to help you explore income protection products that bring complete peace of mind.

What is income protection?

Worried about how you’d manage if illness or disability stopped you from working? Personal income protection can be a real lifesaver, no matter your age. It provides a safety net by replacing a portion of your income if you’re unable to work due to these reasons. This means you can focus on getting better or adjusting to your new situation without the added stress of financial worries.

Think of it like a financial backup plan that pays you a regular income until you’re able to work again or reach retirement. It’s not a complete replacement for your salary, but it can help cover essential expenses and ease the burden during a challenging time.

Is income protection right for you? Let’s chat about your individual circumstances and explore how this type of insurance might fit into your overall financial security plan.

Remember, it’s never too early to protect your future!

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How much does income protection pay out?

Income Protection Payouts:
Key Points
  • Payout amount Varies by policy, typically covering 50-67% of pre-tax income.
  • Tax-free benefit You get the full amount, no deductions.
  • State benefits considered Payout adjusted to avoid duplicate income.
  • Individualised details Review your policy for specifics.
  • Consult for guidance Let’s discuss your needs and tailor your coverage.

Can I claim income protection immediately?

Claiming Income Protection: Timing Considerations
  • Waiting period: Expect a 4-week minimum before payments start, even with a policy in place.
  • Employer sick pay: Income protection typically waits until these payments end.
  • Statutory sick pay: Currently stands at £109.40 per week for up to 28 weeks.

Discuss your specific policy details with your provider for precise wait times and any exceptions.

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Ask us about income protection

There are many income protection providers available and choosing a policy to fit your exact requirements is crucial. For expert guidance and recommendations, please speak to one of our financial advisers.

 

Information given during the application will form part of the legal relationship between you and the protection provider. If any information is omitted or found to be incorrect it may mean that a claim is not paid, or the policy is amended or cancelled.

Get in touch

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Financial advisory in Worcestershire and Kent

Based in Droitwich Spa, we’ve proudly supported clients of all ages since 2004. The opening of our second office in Sevenoaks allowed us to extend our bespoke financial services even further, making SN Financial a trusted financial adviser for individuals, couples, families and businesses across Worcestershire, Kent and the rest of the UK.

Droitwich Office

5 Saltway, Droitwich, Worcestershire, WR9 8LB
01905 779697

Sevenoaks Office

46 Holly Bush Lane, Sevenoaks, Kent, TN13 3TL
01732 926255