Please remember, everyone's personal circumstances are different. These FAQs are meant to help you understand the options available but are NOT a substitute for proper advice.
Can I have income protection if I’m self-employed?
Yes – many of our clients are self-employed and Ltd company directors. You need cover more than most employed people in certain cases, as you may have no continuing income if you’re off work. These plans can pay out from as little as day one for even a light sickness from work. It’s important to understand the exact plan that fits, due to provable income in claim, and continuing income from work. There are many things you need to be aware of when purchasing income protection, so it’s always best to get good advice to ensure you’re Properly Protected.
Will income protection cover my sport or hazardous pursuit or occupation?
Yes. We have many providers covering thousands of high-risk sports people, both amateur and professional and those in high-risk jobs. We can get you Properly Protected with a multitude of plans to cover your concerns.
How much income protection can I have?
You are allowed up to 80% of your income to be covered, dependent on what company we use, your occupation and whether you’re self- employed, a limited company or employed. The average is 65%, but again this is based on your gross income per annum, including bonus etc. if you are employed, net taxable income if you are self-employed or salary and dividends if you are a Ltd company director. It’s important to make sure the correct plan suits your financial circumstances throughout as evidence of income is asked when claiming.
Do you offer insurance for dirt bikes, track bikes or race bikes?
Our group company BeMoto offers insurance for road and non-road bikes, including dirt bikes, quads and track or race bikes. Visit www.bemoto.uk or call BeMoto on 01733 907000* to discuss your requirements and mention "Properly Protected" for the best deal. * Calls are recorded
Do you offer insurance for my road motorcycle?
Our group company BeMoto offers insurance for road and non-road bikes, including dirt bikes, quads and track or race bikes. They have products for multi-bikes, modified and customs, classics, collections, trikes and every other type of motorbike you can think of. Visit www.bemoto.uk or call BeMoto on 01733 907000* to discuss your requirements and mention "Properly Protected" for the best deal. * Calls are recorded
What if I don’t show much income from working for myself or low income employed?
We do have plans that can pay a set amount based on SOME income above £3000 per annum, and not based on a percentage of your income, so paying an agreed amount in claim.
Can I have more than one income protection?
Yes and no. As long as both income protections don’t take your allowable benefits in a claim above the 50-80% of income rule, then yes. But it would have to be declared in a claim and the insurers would check your eligibility. It may affect a payment in a claim and you usually should not have two income protection covers.
How much life insurance can I have?
You can have as much life cover as you would like, as long as it’s affordable to for you and from, an advice point of view, as long as we can justify the reason for it. With independent financial advice, you will get advice based on your circumstances to suit both your concerns and your budget. For business protection, life cover will be assessed on you or your company if a key worker should die to protect shareholders and the business against associated losses.
Can my business pay for my insurance?
Yes and no. This is not easy to answer without knowing your circumstances and it would need to be clarified with your accountant. Many will put certain insurances through the business as key man insurance and business protection. It is possible to use the business to pay for many insurances. The tax implications would have to be discussed with your accountant. We use certain life and serious illness plans for limited company employees to support the business as a key person insurance. Please ask us directly for advice and the best way to be Properly Protected.
Can I cover my children?
Yes - it is possible to cover your children in a number of ways. The most popular way is to have a critical illness cover on yourself that has enhanced benefits to cover your children, should they suffer a critical illness and you have to take time to look after them or pay for treatment etc. There are also certain plans we have access to that can cover them for everyday activities and sports.
Do I have to come in for an appointment?
No - you can discuss things over an arranged appointment over the phone or email with one of our qualified advisers at a time that’s convenient to you. In some cases, its best to have a face-to-face meeting booked and we are happy to arrange these.
Can I be covered instantly?
Yes - in certain cases where your medical history is acceptable to the insurer, we can put plans on risk immediately, even for accidents.
How long will it take to go through a quote?
It can take anything from 10 minutes to two hours, depending on how much advice you need, whether it’s a limited advice quote or a full financial review. On average, it’s about 30 minutes.
Will getting advice from a Properly Protected adviser cost me anything?
No - we don’t charge for advice for protection products and we don’t charge for cancellations, if necessary. We can charge an agreed fee to a business client to transact the best possible cover relating to business protection if you choose to. However, we can also charge on an agreement upfront for mortgage advice, investment and pensions. This will be discussed and as an option it would be agreed before transacting any business.
Will I need to pay anything up front?
No – we would usually advise on a protection product, set the plan up and when it goes live (approximately two-three weeks after it’s set up), the providers will start the first payment for the agreed cover by direct debit. This differs for mortgages, pension and investment advice and would be agreed upfront.
How long would I have to keep the cover for?
We will review protection plans to your needs regularly on an agreed basis. Your circumstances change, so we will look to keep the cover in line with your individual changing needs.
Do I have to have life cover to have a mortgage?
No – there’s no need to have any life cover to have a mortgage borrowing. The only plan a lender would want to see is the building insurance in place. We can arrange this for you!
How do I know the advice you give is the correct one for me, my family or my business?
Properly Protected are Independent Financial Advisers and qualified to transact this business. We are fully regulated by the FCA and have an external compliance company to check our advice throughout all cases. We send you a full fact find to sign, then suitability reports, summarising what we recommended and why in full. We also give you the whole of market research, so you can see we advised on what is best for you - all for your benefit and protection.
The above cover is available across several different policies and all cover is subject to underwriting and individual circumstances.