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020 8732 5411
Call Us Now
020 8732 5411
It's when you need to make a claim that you realise just how wise investing in health and medical insurance can be.
If you're unable to work because of illness or injury, under an employers group sickness scheme (Group IPI) salary is continued but is subject to tax and NI in the usual way.
The maximum amount of income you can replace through insurance is broadly the after-tax earnings you have lost, less an adjustment for state benefits you can claim. As with all insurance, it is important that you have the right type of policy which provides all that you need it to do for you.
Long-term income repayment policies usually come into play between the time when your employer stops paying sick pay, and when you collect your pension.
Shorter-term policies tend to be used to protect a mortgage, bank loan or other payment. These usually commence within a few weeks but stop entirely after 12 months or 24 months. Short-term policies often include unemployment and redundancy, unlike longer-term income protection cover which does not .
To clarify, Income Protection Insurance only applies to products which pay you an income if you become unable to work due to sickness or injury. Policies to protect mortgages, loans or credit card debts are often called Accident Sickness Unemployment (ASU) policies.
We will happily explain this in more detail to you.
INCOME PROTECTION (WITH NO INVESTMENT LINK) HAS NO CASH IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF YOU STOP PAYING PREMIUMS YOUR COVER MAY END.
Chancery Wall are always my first port of call when seeking financial advice. Investments aside – things that are very important to me are my Pension and Mortgage. They provide me with the assurance that I am not only getting the best deal, but sound long-term financial planning. A unique approach that sees me as a client, not a statistic will keep me speaking with Chancery Wall for many years to come.
This is what financial advisors should do! I have never had this kind of experience in the past with financial advisers and this is the kind of service I have been looking for. It’s nice to have one place to come to, without being too large or institutional. I feel like you know the whole picture and if anything happened to me now, I know my family will be looked after.
Chancery Wall have professionally handled my mortgage, pension, and investments over a number of years. Finance can be a daunting world, but their advice has always been friendly, authoritative, and clear – somehow they always find a way of demystifying the process. Highly recommended.
CONTACT US
Chancery Wall Financial Services Ltd
Devonshire House
582 Honeypot Lane
Stanmore
Middlesex
HA7 1JS
T: 020 8732 5411
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Chancery Wall Financial Services Limited is registered in England & Wales No. 08099223.
Chancery Wall Future Planning Limited is registered in England & Wales No. 08592583.
Registered Offices at Devonshire House, 582 Honeypot Lane, Stanmore, Middlesex HA7 1JS.
Chancery Wall Financial Services Limited is authorised and regulated by the Financial Conduct Authority No. 587655.
Estate, Trust Planning and the provision of Wills are not regulated by the Financial Conduct Authority.
The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK.
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