Our Simple Income Protection Plan offers affordable protection to provide a monthly income if you are unable to work due to sickness or an accident. It's highly flexible and applying is quick and easy.
No matter what line of work you are in, you will no doubt have concerns about how you and your family will cope if you have an extended period away from work due to sickness or an accident. Any loss of a regular monthly income could create problems, with household bills still needing to be paid and any savings soon being used up. The problems may be greater still if you are self-employed.
Shepherds Simple Income Protection Plan lets you cover against such an eventuality and receive up to 70% of your normal income during a period of absence.
Just look at what Simple Protection has to offer:
Premiums from as little as £5 per month
Premiums are based on the level of benefit you feel you might need. You can choose to receive up to 70% of your normal income and select a waiting period of between 2 weeks and 52 weeks before you start receiving benefits.
Flexible to suit your changing needs
We all know that income can vary from year to year. The Plan lets you increase or decrease the level of benefit you receive to suit your changing circumstances.
Flexible choice of waiting period
You can maintain control of your monthly premium costs by selecting a waiting period from 2 weeks up to 52 weeks and can change this at any time (but not during a claim) to suit your circumstances.
Inflation cover and waiver of premiums
You can choose to increase your premiums and benefits in line with the Consumer Prices Index to help cover against inflation. Waiver of premium is also included in the plan, meaning you do not need to continue to pay premiums whilst you are ill.
Important things to consider
- If you stop paying your premiums under this plan your benefit will cease and the plan will be cancelled.
- Failure to review your plan may result in you being unable to claim the full amount.
- If you cancel the plan you will not receive any money back.
- Benefits received from this plan may affect your entitlement to any other benefit.
- For the self employed it is 70% of the evidenced net profit stated in your accounts which will be used to calculate the benefit we can pay in the event of a claim.
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. Please ensure that you read the full Terms and Conditions of this plan which are available from you financial adviser or by contacting us directly.
*This premium relates to a Male aged 30 with a waiting period of 52 weeks for £710 of cover (premium is £5.04 a month).