Income Protection
What
is Income Protection?
Income Protection
can be
defined as: "a plan designed to pay a regular
tax free income if you are unable to work due
to sickness or accident"
or "insurance that pays an amount when you
are unable to work more than
10 hours per week due to illness or injury"
If you suffer from a pre-existing
medical condition or are involved in a dangerous
occupation or hobby obtaining Income Protection
Insurance can be difficult. We aim to
use our knowledge and experience to help put you
in touch with the right people that can help you
obtain the cover you desire at an affordable cost.
What types of cover are available to me?
Short term cover - Redundancy, Unemployment, Sickness,
Accident
Benefits paid in event of Accident, Sickness or
Unemployment/Redundancy.
Often called an “ASU” policy or a Mortgage Payment
Protection Policy.
Benefits usually begin after being off work for
30 days.
Benefits usually finish after 12 months.
Pre - existing condition usually excluded.
Cost of cover relatively inexpensive.
Long Term Cover - Sickness
Benefits paid in the event of illness only.
Often called a Permanent Health Insurance (PHI).
You can choose when benefits begin (usually between
4 weeks and 2 years).
Benefits usually finish at retirement age.
Pre-existing conditions may be included (usually
at an extra cost).
Cost of cover varies with age, occupation, health
etc.
Many insurance companies often charge extortionate
rates to clients with medical conditions. In certain
circumstances they may even decline to offer Income
Protection cover at all.
How do I find competitive cover for Income
Protection?
The best way of finding Income Protection cover
is by approaching a Specialist Independent Broker.
Are there any specialists in this area?
One such company is The Insurance Surgery
who have been operating in this market for the
past 5 years and will provide you with a free
evaluation based on your personal requirements.
Simply click below for more details.
Income Protection from The Insurance
Surgery |
