“income protection Insurance will pay you a liveable wage in the event of you being unable to work due to accident or sickness…” says the spokesperson of Income Protect. He further tells us, “Premiums are calculated on your occupation and benefit required. Generally, one can specify 65 per cent of his or her annual income as benefits. When calculating the benefit, you need to consider your outgoings.” He said that this type of insurance is available as either long term or short term. The major difference between these two is not in the premium but in the duration of the time period after which you get paid. It is notable that you can apply for the benefits only after you have remained without employment for that pre-stipulated minimum period of time.
With short term income protection plans, this time is much less than the long term policies. However, short term plans generally expire after a couple of years. With long term plans, you can choose your time and benefits; which would determine your outgoings. Unlike short term policies, you can also choose the age limit up to which you will keep receiving these benefits if, unfortunately, you get disabled for life. He further tells us that the best feature of this type of insurance is that you get complete coverage for nearly all types of minor and major illnesses. It also includes mental illnesses such as depression and even stress. This type of insurance provides far better coverage than some other similar policies like disability insurance.
He says that with income protection plans, “You can expect to receive a larger portion of your income. Income Protection Insurance Policies will cover your food, car payments and other bills, until you feel better and return to work full-time. Income Protection Insurance will secure your lifestyle.” On a closing note, he advised everyone to carefully understand the terms and conditions of any policy before you make the final decision.
About Income Protect Income Protect is a leading income protection insurance company in UK. They are well known for providing affordable polices with excellent coverage to both individuals and companies. They also specialize in providing complete insurance solutions to group of companies. They also provide critical illness cover, private health insurance and health trust fund. Their trained and expert customer support staff will help you understand everything about your policy and offer document. If are interested in protecting your and your family’s future with income protection plans, you can visit the given kink. For other inquiries you can call or write to the undersigned. Income Protect Contact GlennIncome protection InsurancePhone: 01282 869740