Income Protection
At 360 Financial Planning we are here to help protect what matters most – your ability to earn a living. Income Protection is a key part of a sound financial plan. If illness or injury stops you from working, an Income Protection policy gives you a regular replacement income so you stay financially stable when life is anything but.
What is Income Protection?
Income Protection is insurance that pays you a regular income if you cannot work due to illness or injury. It replaces a significant portion of your earnings so you can meet day-to-day expenses while you focus on recovery.
Unlike many state benefits, Income Protection offers longer-term security and can continue until you return to work, reach retirement or reach the end of the policy term.
Why is Income
Protection Important?
Your income supports your financial wellbeing. It pays your mortgage or rent, covers daily costs, supports your family and funds your future. But what happens if that income suddenly stops?
Without a safety net, even a short illness can lead to stress and financial strain. Income Protection gives you peace of mind that your bills can be paid and your lifestyle maintained.
Who Should Consider Income Protection?
Income Protection is valuable for anyone who relies on their income to maintain their standard of living.
Employees With Limited or No Sick Pay Beyond Statutory Levels
Employees With Limited or No Sick Pay Beyond Statutory Levels
Self-Employed Professionals Who Have No Employer Benefits
Self-Employed Professionals Who Have No Employer Benefits
Families Who Depend on a Main Income Earner
Families Who Depend on a Main Income Earner
Mortgage Holders Who Need Consistent Income to Keep Up Repayments
Mortgage Holders Who Need Consistent Income to Keep Up Repayments
How Income Protection Works
Regular Payments
If you are signed off work due to illness or injury your policy pays you a monthly income after a deferred period which is usually 4, 8, 13, 26 or 52 weeks.
Long-Term Cover
Payments can continue until you return to work, reach retirement age or complete the policy term.
Customisable Plans
You can tailor your policy to your needs by choosing the level of cover, the deferral period and the length of the term.
Tax Efficiency
In many cases premiums may qualify for tax relief which makes Income Protection not only sensible but cost-effective.
How 360 Financial Planning Can Help
At 360 Financial Planning, we take the time to understand your lifestyle, income needs, and existing benefits. We don’t just recommend a policy, we make sure it’s the right fit for you.