National Insurance increases could provide further impetus to income protection sales

There will be circumstances when an adviser, looking to put income protection in place for their client, has the option of establishing either a personally funded Income Protection Plan (IPP) or a corporately funded Executive Income Plan (EIP). Even before this April's changes in Employee and Employer National Insurance (NI) contributions, comparing the relative merits of each option favoured EIPs, at least from a tax perspective. The increases in NI make the potential savings greater still. Given the continued gap in IP cover in the UK, despite the excellent work done by the IPTF, an...