[KS Cleaning]

Anyone thinking of taking out one of these policies should first look at their taxable income. On average these companies will only pay out around 65% of your taxable income NOT 65% of turnover. I.E it would be absolutely pointless signing up for a policy which is meant to pay out say £800 per month, if your taxable income does not support this. Unfortunately agents will not make you aware of this as it makes these policies less attractive, instead they will try to get you to pay large monthly installments which will promise large payouts, then you will be asked to sign a form (which they may, but probably won't read to you) which states you have not been given any financial advice from the agent.

[Stephen.C]

Bang on, that is why most think, I have turned over x so I'm entitled to x.

[G Griffin]

Put all spear cash into a property and let your tenant make you rich.Britain is one of the only property markets in the world were you can cover your mortgage with a tenants rent.I have work in the property game in three continents and the U K bricks and mortar is the best investment by far. Insurance and ISA s only build the company`s property portfolio.ASK YOURSELF, WHY TO INSURANCE INVEST IN PROPERTY.

So buy another house? The rent isn't going to cover your own bills, is it? And what if you haven't had time to buy one or build a nest egg?  A plan can kick in straight away but you could save for years to build up an emergency fund.
You can have savings as well and some sort of insurance could be seen as safeguarding them. Knowing your bills are covered if out of work could be enough to justify the expense.
It's personal choice. 

[NBwcs]

"He said he pays £60 a month (I think, which he puts through the business)"

Hope he doesnt get audited then, ive been looking into it lately and was told directy by the tax office that you definately CAN NOT put income protection/sickness through your books. Also the prices quoted on the comparison sites are based on you being 100% fit.any family history of heart conditions etc whacks it up as does anything less than a good bmi index. Ive given up on it, if  the worse happens i'll employ someone, at least i'll get something coming in.

[G Griffin]

"He said he pays £60 a month (I think, which he puts through the business)"

Hope he doesnt get audited then, ive been looking into it lately and was told directy by the tax office that you definately CAN NOT put income protection/sickness through your books. Also the prices quoted on the comparison sites are based on you being 100% fit.any family history of heart conditions etc whacks it up as does anything less than a good bmi index. Ive given up on it, if  the worse happens i'll employ someone, at least i'll get something coming in.

Dunno. That's what I presumed he meant.
He did say that it covers his bills not his income. A few seem to be getting that mixed up.

[Stephen.C]

"He said he pays £60 a month (I think, which he puts through the business)"

Hope he doesnt get audited then, ive been looking into it lately and was told directy by the tax office that you definately CAN NOT put income protection/sickness through your books. Also the prices quoted on the comparison sites are based on you being 100% fit.any family history of heart conditions etc whacks it up as does anything less than a good bmi index. Ive given up on it, if  the worse happens i'll employ someone, at least i'll get something coming in.

I was also told you can not put this through your business account.
I think I have got one sorted.