Personal Protection Plans
We have you covered. If your income stopped tomorrow, how would you pay for the mortgage, childcare and regular household expenses? Our most valuable financial asset is our income, and it can be protected.
Tax relief up to 40%
Personal income protection offers tax relief up to 40%.
12.5% for executives
Executive income protection is a business expense and attracts 12.5% tax relief.
Options if declined
Personal accident cover and specified serious illness can fill the gap.
“By engaging with your financial planner you can approach your financial future with confidence and greatly enhance your overall financial health.”
Your Most Valuable Financial Asset
What is your most valuable financial asset? The answer may vary depending on your employment status, but if your income stopped tomorrow, how would you pay for the mortgage, childcare, and regular household expenses? Our most valuable financial asset is our income.
A professional financial planner can easily calculate the cost of implementing an adequate income protection plan. An income protection policy offers substantial tax relief and gives you peace of mind. If you do not qualify for an income protection policy, alternatives like specified serious illness and personal accident cover can fill this gap. It is important to know your options.
What It Actually Costs
A 30-year-old client earning 47k p.a will need income protection cover of approximately 24k pa. This amounts to 75% of salary less state benefit.
Monthly cost before tax relief
Rate of tax relief applicable
After-tax cost to the client
Figures are an illustration only. Your own cost depends on your age, occupation, health and the level of cover you choose.
Four Things Worth Knowing
The detail matters here, and it is where good advice earns its keep.
Personal cover
Personal income protection offers tax relief up to 40%.
Executive cover
Executive income protection is a business expense and attracts 12.5% tax relief.
Personal accident
Personal accident cover is an ideal solution for income protection declines.
Specified serious illness
Specified serious illness is an ideal alternative to income protection.
Working With a Financial Planner
Engaging with your financial planner not only empowers you to face your financial future with confidence but also brings numerous benefits that significantly contribute to your financial well-being.
By partnering with a knowledgeable and experienced financial planner, you gain access to valuable expertise and insights tailored to your specific financial goals and aspirations. Your financial planner will work closely with you to develop a personalised financial roadmap, taking into account your income, expenses, investments, and long-term objectives.
At Cunningham Financial Services, we understand the importance of managing your finances wisely to achieve your goals and secure your future. Our experienced financial planners will be happy to create a tailored plan that suits you and your family.
A Closer Look at Personal Protection
Compound Your Wealth
Cunningham Financial Services helps individuals successfully manage personal finances. Save for yourself, your children and retirement with certified financial advisors by your side.
Financial goals
We help you set reasonable financial goals such as for children’s education and retirement planning.
Savings and investments
We help you choose and invest in plans that reduce your tax liabilities and increase tax refunds.
Debt management
We help you prevent accumulating debt that adds more financial burden.
Emergency fund
We help you establish a financial safety net to cover unexpected expenses.
A penny saved is a penny earned. Do not drain the value of your hard-earned money; instead plan wisely and continue living the life you always desired. Start planning for your future today.
How Much Life Cover Do You Need?
Book your consultation today and we will talk you through your best options for cover.
Protection Advice Built Around You
Income protection in particular is worth talking through properly, because what an insurer will offer depends heavily on your occupation. A contractor, a nurse, a farmer and a company director doing the same cover on paper can be quoted very differently, and the small print on what counts as a valid claim differs just as much between providers.
That is the part a broker earns their keep on. We look at the whole market rather than one insurer, and we tell you plainly where a plan would not do what you think it does. The first conversation is free, in person or by video call, wherever you are.
Protect the Income Everything Rests On
Tell us what you earn and what you would need to keep going if it stopped. The first consultation is free, there is no obligation, and we will show you what cover actually costs after tax relief.
