Benefits Explained
Protection in uncertain times
Income payment protection is a safety net that will pay out tax-free monthly benefits should you become unable to work as a result of accident, sickness or unemployment.
In an uncertain economic climate, this type of protection helps reassure you that if the unexpected happens, you will have some breathing space, with the monthly benefits acting as a replacement for your income. You are free to spend the money on rent, bills, mortgage repayments, groceries or anything else you wish for that matter.
Flexible cover: choose your protection
You get to decide which circumstances are covered for income protection with these options:
1) Accident, Sickness and Unemployment cover or
2) Accident and Sickness cover only.
Looking for Unemployment cover only? Click here
- You can also choose whether you want cover back to Day 1, or from Day 30 of whichever type of benefit applies.
You can select either type of cover, with appropriate premiums attached to all configurations of your income protection plan.
You can also choose the benefit amount you want paid out in the event of a claim.
- Set the monthly benefit level when you apply.
The amount of cover you select will be shown on your policy documents (on the schedule). Monthly benefits start at £100 and go up a maximum of £2000; with a stipulation that the amount does not exceed 60% of your net monthly salary.
Need cover up to £3,000 or 90% of Net Income? Click here
So, for example, you can decide to obtain £1000 cover, to meet exactly your monthly outgoings, and when you qualify for these, you would receive up to 12 monthly payments of £1000.
Want claims to be paid for 18 months? Click here
- Finally, if you have a mortgage, you can "double-up" on the amount of cover by taking out a Columbus Mortgage Payment Protection Policy in addition to your income protection policy — with up to £2000 available for mortgage protection too.
Consider your own situation, and make your own mind up on the level of cover you feel appropriate. Going through our quote system only takes a few minutes: there you can see exactly how much protection you get for the monthly premium.
