Income Protection – Tax free payments for when you are absent from work

Whatever the reason for being absent from work, whether suffering an incident, accident, illness or if you have lost your job due to closures or employers going bankrupt, the wise and prudent choice of taking out valuable income protection is a safe and secure way of ensuring that you receive a part of your monthly income tax free for however long you may be out of work, find alternative employment or reach the age for retirement, where your pension will begin paying out.

There are many incentives for those signing up for income protection as the industry remains highly competitive and the state of many individuals employment status remains slightly sketchy. Having the assurance that for an affordable fee, there are ways in which to protect your income from events that can occur outside of your control, you can easily achieve this with a bespoke income protection insurance policy.

With an increased number of companies offering income protection, choosing the best policy for you may become a headache. This is where you need to consider a well established and competent expert to deliver the customised solution that meets your requirements but with low cost premiums. Income protection insurance comparison sites purposely hone their expertise and knowledge to encapsulate policy members with a viable insurance package that offers the right level of cover if an income is crippled in any way.

You will receive tax free payments that will equate to a large percentage of your weekly, monthly wage or annual salary, each month until you return to work, find further employment or retire. The flexibility of such insurance plans means that you can begin paying your premiums on an annual basis or on a monthly basis to work best with your current financial set up. An income protection insurance plan is far more rewarding than receiving state benefits or sick pay and lasts for as long as necessary.

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