IT COULD HAPPEN TO YOU

Transcription

1 INCOME PROTECTION

2 thank you

3 IT COULD HAPPEN TO YOU We often say, It won t happen to me. But, if an accident, sickness or redundancy strikes, it could put a swift halt to your income. So it s worth considering how you d cope financially. An income protection policy can help you to keep an income coming in, and keep life as normal as possible. HOW COULD IT WORK FOR YOU? Up to 2,000 can be paid directly into your bank account and you can use this to cover whatever outgoings you wish, such as gas and electricity bills, council tax, mortgage or rent payments and food bills. ARE YOU AGED BETWEEN: 18 YEARS OLD OR OVER UNDER 64 YEARS OLD CAN T WORK? You could get paid... UP TO 2,000 A MONTH FOR 12 OR 24 MONTHS

4 WHY DO YOU NEED IT? Whatever stage of life you re in, there s probably a good reason why you need income protection. SINGLE If you re single it s likely you rely on your sole income to cover your rent, mortgage and other bills. So, it s especially important to have a financial cushion to fall back on if things go wrong. COUPLES Whether you re living together or married, you ve probably got used to a certain standard of living. To continue enjoying your lifestyle it s worth considering putting a policy in place to protect it, so that you can keep on doing the things you love. FAMILY If you have a family you could be hit hard if your finances are ever squeezed. Avoid putting pressure on the purse strings and use this policy to cover everything from the big stuff like, your mortgage and household bills, to family days out and school trips, so that family life remains as normal as it can. DIVORCED If you re divorced you need to think who, or what, you d rely on if things don t go as planned. This policy could help you maintain your financial responsibilities such as a new mortgage, rental agreement, or even child maintenance.

5 PLAN FOR A RAINY DAY SO WHEN IT COMES YOU LL BE ABLE KEEP YOUR HEAD ABOVE WATER

6 GETTING THE RIGHT POLICY FOR YOU Before you purchase your policy you should consider the benefits and income you get from your employer. Following this you choose the elements needed to create a policy that fits you perfectly. 1. Choose from YOUR LEVEL OF COVER Accident, sickness & unemployment Accident & sickness only Unemployment cover 2. YOUR MONTHLY BENEFIT AMOUNT Any amount up to 2,000 a month Or 65% of your gross monthly income (whichever is lower) 3. HOW LONG DO YOU WANT BENEFITS FOR 12 months 24 months (only available for accident & sickness only) 4. WHEN WILL YOUR BENEFIT PAYMENTS BEGIN 30 days with payments backdated to day 1 30-day excess 60-day excess 90-day excess 180-day excess

7 HOW MUCH WILL A POLICY COST YOU? You can tailor your policy to suit both your needs and your pocket. How much protection could cost you? For example IF YOU SELECTED THE OPTIONS BELOW: LEVEL OF COVER MONTHLY BENEFIT HOW LONG FOR WHEN IT BEGINS ASU ACCIDENT, SICKNESS & UNEMPLOYMENT 755 MONTHLY BENEFIT 12 MONTHS 30 DAY-BACK-TO- DAY-ONE COVER YOUR POLICY COULD COST YOU: = 1.29 * PER DAY i WE WANT TO LET YOU KNOW A typical monthly cost for our short-term Income Protection is 5.20 for every 100 of monthly benefit you get. This includes Insurance Premium Tax (IPT) at the current rate. *The costs shown above are correct as of 14/11/2016

8 A LITTLE MORE SUPPORT BACK TO WORK SUPPORT (Included with unemployment cover) LEGAL ADVICE (Included with all cover levels) If you choose to include unemployment cover as part of your policy, you ll benefit from free back to work support if you re made redundant. A service that is designed to provide you with help and advice so you can make a speedy return to work. Get up to 50,000 of cover to help you negotiate your legal rights if you have an employment dispute, or bodily injury claim. CHECK IF YOU ARE ELIGIBLE Your adviser is best placed to decide if you would benefit from a income protection policy. They ll be able to tell you if you need it, how it works, what options are available and how much you ll pay. i SOMETHING YOU NEED TO KNOW There are other providers of short-term income protection and other products designed to protect you against losing your income. If you re self-employed or work on a fixed term contract, you may still be eligible for this insurance but should check carefully that it meets your needs. For impartial information about insurance, please visit The equivalent amount of CO 2 from the production and distribution of this paper has been captured by planting trees in the UK. Paymentshield and the Shield logo are registered trademarks of Paymentshield Limited (registered number ) which is a company registered in England and Wales at Paymentshield House, Southport Business Park, Wight Moss Way, Southport, PR8 4HQ. Authorised and regulated by the Financial Conduct Authority. Paymentshield Limited Asset/00601 (12/16).