Income Protection, or Permanent Health Insurance (PHI) as it is often called, provides an income should you be prevented from working due to sickness or injury.
If the policy is taken out by an individual the benefit payable in the event of a claim is tax-free. The maximum benefit is equivalent to approximately 50-65% of your salary.
The benefit is normally payable until your retirement date or until you return to work if sooner.
The longer the deferred period until the benefit is payable the cheaper the cost. It is also possible to have the benefit increasing in the event of a claim.
It is important to ensure that you have the correct policy wording in the event of a potential claim.
web design by FOXNOSE Web Design Glasgow
Bruce Stevenson (Edinburgh)76 Coburg StEdinburghEH6 6HJ
T: +44 0131 553 2293
F: +44 0131 554 8324
Bruce Stevenson (Glasgow)38-40 New City RoadGlasgowG4 9JT
T: +44 0141 353 3539
F: +44 0141 353 3888Email.
BS Ltd - SC073638
BSFS Ltd - SC095307
BSRM Ltd- SC207315
BSIS Ltd - SC261656
Scotland
76 Coburg Street,
Edinburgh,
EH6 6HJ