If you're a professional sportsperson protecting your income could be essential
Accidents or illness can strike any of us at any time no matter what our profession
and can have a significant impact on our income, but if you are a professional sportsman
or sportswoman the chances of a lengthy sickness or injury lay-off are more likely
than most.
So taking out income protection insurance really does make sense and a recently
launched Group Income Protection Plan from Shepherds Friendly warrants more than
just a close look. Shepherds has been established in the UK since 1826 and can offer
specialist expertise in this area of cover.
The Premier Protect Plan was initially designed specifically for professional Premiership
Rugby Union and Rugby League players but its value and benefits are equally applicable
to professional sports people in all sporting fields.
For instance any professional sportsperson aged from 18 up to and including age
35 can take out cover that will provide a regular tax-free income to allow you to
go on paying your regular monthly bills. You can receive up to 60% of your basic
contractual salary, up to a maximum of £5000 a month and can choose a preferred
waiting period from the date of incapacity until payments begin.
The Plan can even offer cover right up to retirement age. For instance you could
receive 100% of your agreed benefit level up to age 50, with reduced levels of 74%
to age 55 and then 50% until retirement at 65. The Plan is even transferrable, so
if you changed career at some point after taking it out, you can carry it on in
your new career.
A career in sports can offer many "highs and rewards" but the risk of an extended
lay-off due to sickness or an accident is ever present; protecting your income makes
even more sense now than ever so be sure to take a close look at the Shepherds Premier
Protect Plan today