Income protection, also known as PHI or IPP, protects the member against loss of income due to unforeseen circumstances such as an accident or illness.

Lump sum disability is a once off lump sum payment paid out to a member for a total and permanent disability, whereas income protection is a monthly disability income paid for total disability, regardless of whether the condition is temporary or permanent, until the member recovers, dies or reaches benefit cessation age.

Over the next few weeks will be discussing the income protection benefits that each of our four insurers offer. Should you require more information before then please contact your Associate or the office as it may be worthwhile considering this benefit, or an enhancement to the current version of this benefit, at your schemes’ next review?

Thank you and regards,
The TSA Team

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All information provided in TSA Connect newsletters is intended to inform and explain, but please remember to always check the current terms on policies when considering options and advising clients.