Income protection insurance is a secure way to ensure that if you become sick or are injured, you would be able to pay the bills and support your family. When you become sick and have to put your current employment on hold, the pay you receive will cover your expenses and offer you financial security until you either go back to work, you retire, or your policy ends. The income protection policies available to us are affordable, and your premiums are collected in a simple monthly payment. The money you would receive in the case of loss of income due to illness or an accident is usually provided to you in the form of a tax-free payment, and you can use it to help you whilst you recover.
Income protection plans that have no investment link have no cash in value at any time and will cease at the end of the term. If you stop paying premiums your cover may end.
Tax treatment is based on individual circumstances and may be subject to change in the future. The Financial Conduct Authority does not regulate tax planning.