There is never a right time to fall seriously ill or to be involved in a serious accident. Accidents are never planned and it can happen to anyone, anywhere at anytime. When an illness leaves you unable to work, it can rapidly have a detrimental impact on your finances. Unfortunately nothing halts your financial obligations. An Income Protection Plan provides you with a regular income when an illness or injury prevents your from working. The income will start after your deferment period, (usually 3 months) and will continue until you are medically fit to return to work, or until the age of 65, or your selected retirement date if earlier. Normally you can insure up to 70% of your annual salary.

Looking at the statistics for working men and women between the ages of 20 and 65 shows that the likelihood of a long period of illness is high and needs to be taken seriously.

A man aged 35 is 3 times more likely to be off work for a period of more than 6 months before the age 60 due to illness, than he is to die before aged 60.

A woman aged 40 is more than 7 times more likely to be off work for more than a 6 month period before the age of 60, due to illness that she is to die before the age of 60.

1 in 4 men and 1 in 5 women in their 20's and 30's will suffer cancer, a heart attack or stroke before reaching the standard retirement age.

• Where will the money come from to pay the mortgage, education fees, other insurance policies and your retirement plan?
• If it happens to you will you be able to maintain your standard of living whilst you are unable to work?

If you are need of income replacement protection you can consult one of our advisors here.