Helix | Healthcare LTD - Individual Income Protection Insurance

Individual Income Protection Insurance

Income Protection Insurance, also know as Permanent Health Insurance, is designed to provide you with a tax free income if you are unable to work due to an accident or illness.

Cover is usually available up to 65% of your current income, although this does vary between insurers. You'll have the option of linking your payments to the Retail Prices Index, keeping pace with the true cost of living.

So what's covered?

Insurance companies will ask you which definition of incapacity you require. The most common are:

Own occupation – covering you if your accident or illness prevents you from carrying out your own occupation;
Any suited occupation – covering you if your accident or illness prevents you from carrying out your own occupation and any other occupation specified by the insurance company;
Any occupation – only covering you if your accident or illness prevents you from carrying out any occupation whatsoever;
Activities of daily living – only covering you if your accident or illness means you are unable to carry out a selection of everyday tasks, such as washing and dressing yourself;
Activities of daily working or personal capability assessment – only covering you if your accident or illness means you are unable to carry out a selection of work-related tasks, such as walking, communicating and working with your hands.

Why would I want it?

Think what would happen if you suddenly lost this ability and could not work due to an accident or sickness. If you did not have an Income Protection plan, where would you find the money to pay for the following:

Mortgage/rent
Food
Phone bills
Utility bills
Child care
Car expenses
Council tax
Loans/credit cards
Holidays
Clothes

If you are employed your employer may pay you sick pay. But how much will you receive and for how long? You should of course check with your employer, but chances are that you will receive short term support and not necessarily anything beyond that, leaving you exposed if you suffer a long term sickness or injury.

An Income Protection Insurance policy will start to pay out after the agreed deferred period. These payments will then not stop until you are either:

well enough to return to work;
reach the end of the policy term;
reach retirement;
or die.

During the policy term, there are usually no limits on the number of claims you can make.

Helix Heathcare LTD

Individual Income Protection Insurance

So what's covered?

Why would I want it?

Call Us : 0800 428 2450

Email Us : enquiries@helixhealthcare.co.uk