Nurses Income Protection
Income Protection is a type of insurance that provides you with an income of up to 75% of your earnings if you cannot work due to an accident or an illness.
It pays you until retirement or until you are able to go back to work.
When taking out Income Protection as a nurse it is important that you select your normal retirement age as the expiry age.
Your normal retirement age will usually depend on when you first joined the Public Sector or if working privately then it is prudent to discuss your retirement age with your employer.
Often group income protection scheme do not cover nurses until their retirement age.
We can calculate the benefits you would receive from your employer if you are unable to work due to an accident or illness, so that you are not over or under insured.
Nurses have a higher likelihood of claiming on income protection relative to most other occupations due to physical and mental demands of the job.
Income Protection will give you the peace of mind of knowing that if you suffer from ill health you will not have to struggle financially.
Midwifery and Nursing are demanding jobs and are recognised as high-risk professions. If a nurse or midwife becomes unwell, sick pay provides you with an income for a limited period until you are fit to go back to work or you reach your chosen retirement age. At PPS Financial, our qualified financial planners are always there to find you the best financial solutions.
How does Income Protection Work?
An income protection policy pays out a salary if you are unable to work due to a disability or an illness. You can only benefit from this if you are unable to work at your job for a period of time. This is known as the deferred period. When you take out a policy you can choose which suits you best. The period is typically 4,8,13,26, or 52 weeks.
Why do Nurse’s need Income Protection Insurance?
Nurses need income protection insurance for the following:
- If you have become Ill, injured, or are disabled and you cannot work
- Have no other source of income
- Receive no sick pay from your employer
- Dependents in the home rely on your income
- Have no salary to cover income loss and cover all expenses
- Have no ill-health pension protection
Why Choose Us?
- Over 15 years of experience in financial services
- Covering both private and public sectors
- We pride ourselves on our commitment to providing a high quality and efficient service to all our clients.
- Everything we do is geared to bring you competitive quotes for income protection insurance together with exceptional customer service.
Feel free to talk to us today and we can advise you on what is best for you.