|
INCOME REPLACEMENT POLICIES
Aside from income replacement requirements that are dictated by ill health or injury, it is also possible to insure against loss of income caused by redundancy.
The policy will usually have the option of the insured selecting a deferred period -4,13,26 or 52 weeks being the standards - with no benefit being paid during the deferred period. The trade off for this is that premiums are usually lower the longer the deferred period.
Benefits would cease once new employment was found, with benefits, whilst they are being paid, tax free.
If you would like to know more about income protection and receive a quotation for cover please click on the link below and complete the request form.
|