Recently the government announced plans to phase in a new Statutory Sick Pay Scheme with employers being told to guarantee a minimum number of paid sick days annually from 2022. It is planned that employers will cover up to 10 days sick leave by 2025.
A welcomed improvement for employees, but what happens if you are seriously ill, or out of work long term?
Have you considered how you will cover your day-to-day living expenses, mortgage and other loans if you are out of work for a year or longer?
Rather than having to use up all your savings or borrow funds, the best solution is to have an Income Protection Plan in place (a.k.a. salary protection).
What is Income Protection?
Income Protection pays you a monthly income in the event you cannot work due to accident, injury or illness.
- The cost is based on your age, health, and job description.
- Premiums are eligible for tax relief at your marginal rate of tax or at 12.5% if paid via your company.
- Income Protection can be set up on a Personal basis, or can be set up as an Executive Plan paid by your company.
We are to delighted to offer a Discount of 10% up until the 31st July 2021.