Income Protection Options

Income Protection

This type of policy is designed to provide an income in the event that the insured individual becomes unable to work due to ill health. The level of premium will depend upon the amount of benefit and term selected and most policies cease to pay the benefit once the insured is able to return to work. Income Protection policies are usually written to retirement age or 60 if earlier.

Accident, Sickness & Unemployment (ASU) 

ASU policies were traditionally sold to accompany mortgages, allowing for a regular income to be paid to the insured should they be unable to work due to ill health, an accident or loss of their job. The product can be split down, and unemployment cover is usually the optional extra available for an additional premium. Benefits are only usually paid for a specified time, for example 12 months. It is important to compare ASU and Income Protection closely as one may be more suitable than another. It may also be possible to use the two products to work in tandem with each other. 

RNS Chartered Accountants

RNS Independent Financial Advisers are backed by the partners of the long established regional accountancy firm RNS Chartered Accountants. It means we can offer financial solutions that a traditional IFA can but also provide the breadth of knowledge and tax expertise afforded by advisers who are also qualified accountants. We encourage prospective clients to arrange a free initial consultation at our offices in Scunthorpe, Brigg and Barton or at your home or place of business.

Click here to find out more