Income Protection

Body

Income Protection Insurance

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 .

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.

Warning Text

THE PLAN WILL HAVE NO CASH IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF PREMIUMS ARE NOT MAINTAINED, THEN COVER WILL LAPSE.

Other Areas of Expertise

Andrea - mid 50s

business owner

I came to see Josh not only helping me plan for my retirement but also in helping me look after a Trust fund for my Nieces. Josh is always quick to respond to queries and deals with all requests in a timely and efficient manner. I feel very comfortable in the fact that if I ask for something to be done or need some advice he ALWAYS delivers.
I have not always had this service from other financial advisors. I would happily recommend Josh to anyone needing financial support.

Trevor

Power of Attorney

Following our mother's Alzheimer's diagnosis and admission into a residential care home, my sister and I were looking for financial advice on the options available to fund her care. Our main concern before speaking with Josh was finding an adviser who would provide us with sound financial advice.
Josh provided us with various funding options relating to our mother's residential care provision. These options gave my sister and I the information we needed to determine the best way forward in respect of funding our mother's care needs. Josh provided clear, concise, and timely financial advice, and responses to all our questions were swift, friendly, and easy to understand. He also went out of his way to secure an immediate needs care annuity within the timescales required to meet my mother's urgent funding needs.
My sister and I received excellent support from Warwick Road Financial Services and believe that, without Josh's assistance, we would have struggled to achieve a successful outcome.
My sister and I have a cautious approach when it comes to making major financial decisions. We believe the approach used, and the advice offered by Warwick Road Financial Services, would be of benefit to people who, like us, have a cautious approach when it comes to financial matters.

Darren

IT professional – requiring and receiving ongoing Pre-retirement advice

I approached Jethro several years ago because my wife and I really hadn’t paid any attention to our pension planning. Jethro helped us by identifying various plans from previous employers, and a personal plan that I’d left to stagnate from my contracting days.
The result was that Jethro managed to consolidate all these into single managed portfolios for each of us. One thing we really liked was his clear explanation, regular communication, and friendly but professional approach. He explained things to us in language we could both understand. We found the experience very easy to navigate thanks to Jethro’s detailed and clear explanation and guidance.
We would recommend Jethro to people who need a full-service pension professional to guide them clearly and safely through their options and manage the entire process for them.

Miss Parker

I instructed Claire Adams from Warwick Road Financial services to assist me with consolidating my various pensions into one with Quilter.
Claire took care of everything on my behalf and kept me updated at all times. Clare was extremely professional, efficient and explained everything in great detail.
As I was so impressed I also took out life cover, which again Claire found the best deal and it was set up almost instantly.
I would highly recommend Claire to future clients, friends and family as I know they will receive a first-class Service.

Steve

58, Director

We originally approached Lawrence because we were looking for help with our insurance/mortgage and general finances, whilst in our early 20’s.
Before we had met you, we were concerned about obtaining financial advice from somebody who we didn’t know or wasn’t recommended, due to a family members previous bad experience.
Lawrence helped us by putting us at ease, explaining everything in layman’s terms, so that we understood the advice and were always given opportunities to wait, delay or decline any plans that were offered.
As a result, almost 30 years later we still see Lawrence at least once per year to discuss our current situation and our plans. We are in an excellent position financially regarding our mortgage, savings and pensions, largely thanks to Lawrence.
One thing I really like is the trustworthy and friendly attitude he has always shown towards us.
I found the experience very comforting, knowing that our finances were being taken care of by a professional and that our long-term plans were reachable.
The sort of person that would benefit most from using them would be a young couple, starting out in their careers, as we were when we first met Lawrence.

Body