This is an insurance policy which provides you with a regular income if you can't work because of illness or disability. The benefit paid is up to a maximum percentage of your earnings - often 50% or 60%, although this varies from provider to provider.
Policies pay out after you have been off work for a period of time (known as the 'deferred period'), and will continue to pay out until you can get back to work or until the end of the policy term.
You can commonly choose a deferred period of 4, 13, 26 or 52 weeks, depending on how long you may be able to survive on any savings or how long you receive sick pay from your employer.
Contact us now to talk about the options available for protecting your income in the event of your being unable to work through ill health.