Whether you've started a new job or been in your current role for a while, it's important to know what benefits your employer will provide if you should die or become too ill to work. 
Take a few moments to complete this employee benefit checklist and if you're not sure of the answers, check your contract or speak to your HR department. 
Planning ahead now could help to ensure that you and your loved ones don't struggle with your finances at a time when income is needed most. 
How much life cover is provided by your employer? It is sometimes called Death in Service Benefit Total £_____ 

How much sick pay are you entitled to? 

number of weeks @ full pay of £_____ per week*  
number of weeks @ half pay of £_____ per week*  
number of weeks on Statutory Sick pay of £95.85** 
*Assuming annual salary divided by 52 weeks/ **State benefit rate correct as of April 2020 
Are you entitled to any other EXTRA benefits should you become ill? (For example critical illness cover?) 
Total value of extra employee benefits Total £_____ 
Is this enough? 
Would life cover or Death in Service Benefit amount provide enough funds to help pay off your mortgage or keep your loved ones in their rented home for a long period? Yes/No 
Have you considered what other savings or money you could rely on if you were off work sick for a long period? Total £_____ 

When considering income protection insurance, there are three main premium types to choose from. 

Guaranteed premiums 
These may be more expensive in the beginning, but they can work out cheaper over a long period as the premiums are fixed. This can be a good option for people who take out income protection insurance when they are relatively young and healthy. 
Reviewable premiums 
These generally work out more expensive if you retain your policy over a long period. They're often cheaper to start with, but the insurer can increase your premium in accordance with their number of claims or economic performance. 
Age-banded premiums 
These premiums will increase over time in line with your age and increased risk of claiming. They can only rise by a set percentage each year, unlike reviewable premiums. 
For an in-depth overview of income protection insurance, download our free guide . Or, visit our quote page for an instant, discounted quotation. 
Contact Income Protector today and ensure you and your loved ones are protected sufficiently. 
Nigel Osgood, Independent Mortgage Broker & Insurance Adviser 
E: info@income-protector.co.uk 
T: 01628 594433 


For an in-depth overview of income protection insurance, download our free guide 


Visit our quote page for an instant, discounted quotation 
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