Our income protection insurance online quote is your starting point to having an income if you are unable to work. Become a customer and you become a member of DG Mutual, a well-regarded mutual society. We’re run for the benefit of our customers – that could be you.
Also known as income replacement insurance, income protection provides you with an income if you’re unable to work due to injury or illness. Successful contractors, the self-employed and business owners often have substantial financial commitments. Aside from savings, without protecting your income, you may have no way of paying your overheads for six months or more if the worst happens. We all think it won’t happen to us. But we all know someone (or know someone who knows someone) whose working life has been compromised by stress, injury or serious illness.
There are many benefits of getting a quote from us. The first thing you’ll notice is that it’s easy to get a quote. Just input your date of birth, retirement age and the desired amount of weekly benefit into our online form. A word of explanation about entitlement: The weekly benefit entitlement can be up to £1200 a week – up to 66% of pre-tax earnings. Compared to the tiny amount of state support available to the long term sick, income protection payments make a substantial contribution to covering overheads and maintaining a lifestyle.
All policyholders get a tax free lump sum on retirement which offsets the cost of your policy. Put this way, it’s not cover for nothing, but it does mean you will have cash to spend, how you wish, when you retire.
Of course, every individual’s circumstances are different. Another benefit of taking a policy out with us is that your policy can be designed to dovetail with any other cover you have in place. So, for example, the benefit can be paid from Day 1, 4, 13, 26 or 52 days after illness or injury. If you’re a smoker there is no smoker premium loading or loading for occupations. And there are very few policy exclusions.
Your benefit can also have different structures; a constant or reducing benefit. There’s also an escalating benefit option payable 52 weeks after the start of any claim: Your benefit will rise 3% every year. Policies can be geared to retirement at 55 or 60 and applications are welcome from individuals aged 16-50.
Getting an online quote is easy. When you consider what’s at stake, isn’t it worth 2 minutes of your time?