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OPT FINANCIAL

OPT Financial works on a Face-to-Face model, meaning we sit down with each individual customer and completed the process with them at a time and date (and location) to suit them.

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SERVICES

Income protection policies protect and cover your income if you’re unable to work due to illness or injury.

Income Protection

WHAT IS INCOME PROTECTION?

Income protection policies cover you if you are out of work due to redundancy, illness or an accident resulting in injuries. The policy will pay out a tax free income to help you to pay your bills and continue your way of life whilst you’re out of work. This income will continue until you are fit to return to work or you retire.

TYPES OF INCOME PROTECTION

Most life insurance policies will pay out a lump sum when you pass away to help your family pay the mortgage, or to leave an inheritance to your children. Whilst this is important when you’re gone, unfortunately it’s more likely you or your partner will be out of work from an accident, long term sickness or redundancy. Whilst life insurance will pay a lump sum, income protection payouts will normally cover your mortgage or rent payments, utility bills and other expenses while you’re out of work.

There are two different types of income protection policies to consider:

PHI, PERMANENT HEALTH INSURANCE

Permanent Health Insurance policies can protect some of your income if you have an accident or fall ill. Normally a PHI policy will protect 50% of your gross salary, and this can be paid to you until you’re fit to work again or until you retire.

ASU, ACCIDENT, SICKNESS & UNEMPLOYMENT COVER

ASU policies cover mortgage, rent and debt payments if you fall ill, have an accident or become unemployed. The level of cover depends on your individual circumstances and what it is you’d like to be covered for. ASU policies can cover you for illness, accidents and unemployment.

Amount of cover

Each insurance policy, level of cover and monthly amount depends on each and every individual circumstance. There are lots of factors to consider when thinking about an income protection policy:

YOUR AGE

POLICY TERM

YOUR HEALTH

DRINKING & SMOKING HABITS

AMOUNT COVERED

DEFERMENT PERIOD

COVER FOR YOU 

 

Most insurance policies start from as little as £9 per month, the higher the premium, the more protected you are. It’s important to think about what you want to be covered for and how much you can afford to pay.

 

If you’d like to discuss this with someone, we have a dedicated team of professionals who can help understand your needs and advise the best options for you to help make the right choice.

 

Get a free quote now  

We understand that people have varying circumstances and requirements. If you're interested in any of our services and would like to discuss this further with us, you can request a quote below.

We review you current financial situation, helping you understand the financial impact if you were to pass away. We have a dedicated team who search the market to find the best products for you.

Face to Face Meetings

Dedicated Team

Whole of Market Broker

Full Financial Review

Free Policy in Trust

Tailored Protection Plan