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Income Protection

Is there anything more important that protecting your income in the event of you suffering an illness or accident whether on a short or longer term basis? Income Protection provides a replacement income of up to 70% of your current salary or your net profit if you are self employed. The benefit is payable after a waiting period of anything from Day One up to a period of 12 months depending on your occupation and the benefits provided by your employer. Insurers provide cover periods from two years up to retirement age of 70 years on an own, suited or any occupation basis with either a level or index linked benefit selected. Premiums can depend on the nature of your occupation but some providers don't differentiate and provide a similar premium basis irrespective of what you do for a living.