This type of plan is designed to replace your salary and will provide a tax-free income if you are unable to work through disability. The policy pays a monthly tax-free income until you recover - right up to retirement date if needs be and the payout can be level or set to rise with inflation.
The maximum cover you can have is typically half of your gross income but as it is paid tax-free it should mean that you can maintain a similar level of take home pay. However, some employers provide this cover as part of your overall employment package - so check these details first.
Everyone should have this cover, because the State simply does not provide adequately.
For further information please call us on FREEPHONE 08006125094 or complete our on-line enquiry form.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. There may be fee charged for mortgage advice. The precise amount will depend upon your circumstances but the maximum fee would be 1.5% of the loan value. Some mortgage and insurance products are not regulated by the FSA.
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