Each year around one million people in the UK find themselves unable to work due to a serious illness or injury (ABI 2017). Income protection insurance is designed to give you some cover if you can’t earn an income for those reasons. If something happened to you, would you be able to survive on savings, or on sick pay from work? If not, you’ll need some other way to keep paying the bills and you might want to consider income protection insurance.
A relevant life plan is a stand-alone single life policy. It’s a tax-efficient way for employers to give death-in-service benefits to their employees outside of a registered group life scheme.
You can find out more about both these by visiting our brief guide here.