We also offer Business Overheads Cover for self-employed business owners who need additional support should they not be able to continue operating their business due to being ill or injured. These are just two of the ways we’re designing cover that meets your sophisticated insurance needs.
Income protection is arguably the most important living benefit within a life insurance portfolio. If you’re unable to perform your job because of illness or injury, income protection ensures you can meet your monthly financial commitments by replacing up to 75% of your net-of-tax income.
Income Protection TopUp Cover – closing the gap in your cover value
In some cases, even a reduction in earnings can mean you are unable to meet your living expenses. That is why we introduced a Temporary Income TopUp Cover option, which enhances your cover to up to 100% of your net-of-tax income for up to 24 months for a temporary Illness or injury. If you become permanently disabled, you will continue to receive 100% of your net-of-tax salary until your chosen retirement age.
Self-employed individuals can experience some extreme variability in their earnings, especially if their work is highly seasonal. In these cases, we would look at an average income over a period – usually a year but in some cases over two to three years. We want to help entrepreneurs feel protected and covered even where their income streams fall outside those of the traditional salaried employee.
Business Overheads Cover – life doesn’t stop just because you’re ill or injured
Among our self-employed client base are entrepreneurs whose businesses can be decimated by the effects of an illness or disability. If you are unable to work, Business Overheads Cover ensures your business doesn’t suffer unnecessarily in your absence.
Perhaps you run a medical practice or an IT consultancy, with financial obligations and employees that depend on you to keep things running. In these cases, Business Overheads Cover acts like income protection for your business, helping you offset your businesses expenses like rental, staff salaries and debt repayment interest while you’re recovering.
A unique approach to life insurance
At Investec Life, we approach life insurance with you in mind. Our approach is deliberately different. We take the time to understand your needs and tailor an efficient, convenient and personalised solution for our individual clients. As part of our Investec. One Place™ proposition, everything we do is focused on enabling you to create, grow, preserve and protect your wealth.