Income Protection

Introduction

Life happens, and sometimes it can put your ability to earn on pause. That’s where Income Protection Insurance steps in.

This type of cover protects a portion of your income if you’re unable to work due to illness or injury. Think of it as a safety net designed to complement any sick pay or employer benefits you already have. The policy kicks in when your employer stops paying sick leave and can keep you supported right up until you retire.

Here’s how it works:

• It pays you a regular, tax-free monthly income, so you can keep up with life’s essentials if you’re unwell.
• The maximum payout you’ll receive is generally based on your after-tax earnings, adjusted for any state benefits you might be eligible for.
• It’s flexible – tailored to suit your individual needs and circumstances.

Short-term or Long-term?

• Long-term income protection is designed to provide ongoing support – bridging the gap between your employer’s sick pay and your pension.
• Short-term policies, on the other hand, focus on protecting specific payments like a mortgage or loan. These typically start paying out after a few weeks and stop after 12 or 24 months. Unlike long-term cover, they may also include protection against unemployment or redundancy.

It’s important to note: Income Protection Insurance is all about supporting you through illness or injury. It’s not the same as redundancy or unemployment cover.

Got questions? No problem – we’d be delighted to explain it all in detail and help you find the right cover for your needs.

With Maplestone, it’s not just about insurance. It’s about peace of mind.

Your health is worth protecting. Let’s get started today.