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Income Protection
Income Protection insurance
It's when you need to make a claim that you realise just how wise investing in health and medical insurance can be.
If you're unable to work because of illness or injury, Income Protection Insurance is designed to provide you with a regular tax-free monthly income.
The maximum amount of income you can replace through insurance is broadly the after-tax earnings you have lost, less an adjustment for state benefits you can claim. As with all insurance, it is important that you have the right type of policy which provides all that you need it to do for you.
Long-term income repayment policies usually come into play between the time when your employer stops paying sick pay, and when you collect your pension.
Shorter-term policies tend to be used to protect a mortgage, bank loan or other payment. These usually commence within a few weeks but stop entirely after 12 months or 24 months. Short-term policies often include involuntary unemployment and redundancy, unlike longer-term income protection cover which does not.
To clarify, Income Protection Insurance only applies to products that pay you an income if you become unable to work due to sickness or injury. Policies to protect mortgages, loans or credit card debts are often called Accident Sickness Unemployment (ASU) policies.
We will happily explain this in more detail to you.
INCOME PROTECTION (WITH NO INVESTMENT LINK) HAS NO CASH IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF YOU STOP PAYING PREMIUMS YOUR COVER MAY END.
Other Areas of Expertise
Wealth Management
Wealth, just like your health, must be carefully preserved. Your assets need to be protected against the potential threats of erosion by taxation, the effects of inflation and investment risks.
... Read moreTaxation
Taxation can be very complicated and the rules, reliefs and allowances often change, so it is worth obtaining a clear grasp of how these taxes work by discussing with a professional adviser
... Read moreSavings & Investments
When someone talks about savings and saving money, it could be referring to a piggy bank or a high interest deposit account. Savings are effectively cash or cash instruments, such as deposit accounts, term bonds etc.
... Read more
Pensions
When you retire you still need food and shelter as an absolute minimum, but of course you will want to maintain the lifestyle to which you have become accustomed, so unless you can guarantee a large inheritance
... Read moreMortgages
Your mortgage is probably the largest financial transaction and commitment you are likely to undertake. Surely then you should seek mortgage advice which is individually tailored to your needs
... Read moreLife Assurance
The main purpose of Life Assurance is to provide money for those people who may depend on you financially, in the event that something should happen to you.
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Financial Planning
Professional Financial Planning is the process which aims to help you realise your ambitions - whatever they may be. As professional financial advisers we can help you make informed decisions
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About Us
Based in Melton Mowbray, Mill Lane Asset Management is a trading style of Active Financial Partners Limited, which is part of the Harwood Wealth Management Group Ltd. The Group is based in Waterlooville, Hampshire and currently has more than 80 financial advisers who through regional offices provide financial planning and wealth management advice to retail investment clients, as well as...
Read MoreMelton Mowbray Office
Mill Lane Asset Management
20 Norman Way
Melton Mowbray
Leicestershire
LE13 1JE
Phone : 01664 483124
Email : Enquiries@MillLane.com
The guidance provided within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.
Mill Lane Asset Management is a trading style of Active Financial Partners Limited which is authorised and regulated by the Financial Conduct Authority.
Registered in England No.04266233 ---- Registered & Head Office: 5 Lancer House, Hussar Court, Westside View, Waterlooville, Hampshire PO7 7SE.
Active Financial Partners Limited is entered on the Financial Services Register (www.fca.org.uk/register) under reference 301860.