Income Protection
Income Protection, built for business owners
What is it?
Protecting your monthly income. A policy designed to pay you a regular monthly income if illness or injury prevents you from working, helping you continue to receive a salary while you recover.
Who’s it for?
Company directors and senior executives. Designed for limited company directors who want to protect their income through their business, rather than funding cover personally.
Why does it matter?
Protecting you from a double financial hit. If you’re unable to work, your business can lose your contribution while your personal income is also affected. Income Protection helps replace your salary, giving you greater financial security.
Who pays?
Your business does. The premiums are paid by your company rather than from your personal income and may qualify as a business expense, depending on the policy and how it’s set up.
What’s included?
Flexible cover to suit you. The policy can provide a monthly income after an agreed waiting period, typically continuing until you’re able to return to work or reach the end of the policy term. You choose the level of cover and waiting period that works for you.
Is it tax-efficient?
Potentially, yes. Executive Income Protection premiums can often be treated as a tax-deductible business expense, while any benefits received are generally paid as taxable salary — providing a potentially tax-efficient way to protect your income.
