Income Protection Options

Income Protection

This policy is designed to provide an income in the event the insured individual is unable to work due to ill health. The level of premium will depend upon the amount of benefit and term selected. 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 lose 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 period, 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 beneficial to use the two products to work in tandem with each other.

Personal Asset Management are Independent Financial Advisors with over 50 years combined experience.  We have clients throughout Torbay, Newton Abbot, Exeter and the South of England, with our office based in Kingskerswell.

Our services include investment advice, Inheritance Tax planning, pension advice and retirement planning, mortgages and equity release.