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  • Income Protection Insurance

Income Protection Insurance

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.

Income Protection Insurance

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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Company address: Family First Financial Ltd, 7 Bell Yard, London, WC2A 2JR T: 07951793579 E: mariankaikai@familyfirstfinancial.co.uk

Family First Financial Ltd is an appointed representative of Quilter Mortgage Planning Limited & Quilter Financial Services Ltd., which are authorised and regulated by the Financial Conduct Authority. Quilter Mortgage Planning Limited and Quilter Financial Services Limited are entered on the FCA register (https://register.fca.org.uk/s/) under reference 440718 & 440703.

Family First Mortgages Ltd is registered as a company in England & Wales No: 11432105. Registered Address: 7 Bell Yard, London, United Kingdom, WC2A  2JR.

The guidance and/or information contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.

Approver Quilter Mortgage Planning Limited & Quilter Financial Services Ltd 30/01/2025.

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