Our Income Protection Plan pays a regular income if sickness or an accident means you can't work. It's highly flexible and can be tailored to suit your specific needs
How would you and your family cope if you were unable to work due to sickness or accident? You may receive some sick pay if you're employed but how long would that continue? If you are self-employed the problems might be greater still and any savings may only last for a short while.
With Shepherds Income Protection Plan you can cover yourself to ensure you receive up to 60% of your income if you are unable to work due to sickness or accident. You can even choose to cover against loss of income if your child is ill as well.
Just look at what the Income Protection Plan has to offer:
Premiums start from as little as £10 per month*
Premiums are based on the level of benefit you need - you can choose to receive up to 60% of your income and choose a waiting period of between 1 day and 52 weeks before your benefits are paid.
A highly flexible Plan to suit you
You can increase or decrease your level of benefit to suit your circumstances, you can also change your waiting period and even change your retirement age should your plans change.
A wide range of additional benefits too
You can choose to increase your premiums and benefits in line with the Consumer Prices Index to cover inflation; you can choose to waive the premiums while you're off work; you can even choose to cover against loss of income while your child is ill as well.
Potential TAX-FREE lump sum**
It may also give you a TAX-FREE lump sum to look forward to at the end of the plan. Please see your personal illustration for the details of the potential amount.
Illness can happen to anyone - make sure you protect your income today
Sickness or illness can strike any of us at any time. It makes sense to ensure you have at least enough income coming in to meet your regular financial requirements, so why not apply for an Income Protection Plan from Shepherds Friendly today.
Important things to consider
- If you stop paying your premiums under this plan your benefit will cease.
- The value of your plan at retirement is not guaranteed.
- Failure to review your plan may result in you being unable to claim the full amount.
- If you cancel your plan before the end of the term you may be penalised and in certain instances receive no money back.
All references to taxation are to UK taxation and are based on Shepherds Friendly Society's understanding of current legislation and H M Revenue and Customs practice which may change in the future. Investment growth is by means of bonuses, the amount of which cannot be guaranteed throughout the term of the contract. Please ensure that you read the full Terms and Conditions of this plan which are available from your financial adviser or by contacting us directly.
* Premium would provide Income Protection of £330 per month based on male aged 30 with a 4 week waiting period. If you cancel your Plan in the first 2 years you will not receive any money back. If you stop paying premiums under this Plan your benefits will cease. ** TAX-FREE lump sum payment is dependent on length of the Plan, performance of the Society as a whole and the volume of sickness claims therefore it is not a guaranteed payment.