Income Protection

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Income Protection Insurance

If you're unable to work because of illness or injury, under an employers group sickness scheme (Group IPI) salary is continued but is subject to tax and NI in the usual way.

The maximum amount of income you can replace through insurance is broadly the after-tax earnings you have lost, less an adjustment for state benefits you can claim. As with all insurance, it is important that you have the right type of policy which provides all that you need it to do for you.

Long-term income repayment policies usually come into play between the time when your employer stops paying sick pay, and when you collect your pension.

Shorter-term policies tend to be used to protect a mortgage, bank loan or other payment. These usually commence within a few weeks but stop entirely after 12 months or 24 months. Short-term policies often include unemployment and redundancy, unlike longer-term income protection cover which does not .

Income Protection Insurance only applies to products which pay you an income if you become unable to work due to sickness or injury. Policies to protect mortgages, loans or credit card debts are often called Accident Sickness Unemployment (ASU) policies.

We will happily explain this in more detail to you.

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Testimonials

This is our second time using Tina and Complete Financial Centre – the first time was on a recommendation and our first ever mortgage – I was heavily pregnant and emotional– Tina was AMAZING. Reassuring, sensitive, non – judgmental yet honest and matter of fact. She walked us through every step. Three years later and an entirely different world with entirely different mortgage rates saw me burrowing my head in the sand – Tina dug me out and supported us through the process again. Although Tina feels a bit like a fairy Godmother, she unfortunately doesn’t have a magic wand – what she does have is access to A LOT of different mortgages, patience and the ability to support you to do what you need to do. I will not hesitate to call Tina when our new mortgage rate expires – although, I won’t need to remember as Claire probably has it in her diary for 5 years from now anyway Thank you Tina and Claire.

Client

Tina was very helpful in helping me buy my first home. Always available to answer any questions I had and advise me.

Ariane L.

Amazing help, couldn't have done it without her.

J. Barbosa

Overall, I found the mortgage advisors easy to talk to and they explained the information in an easy + simple way. They listened to my needs + financial situation and helped find the best deal for me going forward. Obviously, it is annoying that the mortgage payments have gone up. But they helped find the risk solution to manage the situation the most effectively. Hopefully with the mortgage payments have increased. They will stay the same for a prolonged period of time. Thanks.

Adam G.

Thank you, Tina.

Appreciate your help, guidance

Andrew P.

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