Go and compare income protection insurance
If you have decided to go and compare income protection insurance, it’s likely that you want to protect yourself and your family financially in case you have problems at work. You could become suddenly unemployed, or illness or injury could mean that you are unable to fulfil your job position’s requirements. Treated as a permanent form of cover, income protection insurance covers you for the duration of your policy, meaning that you need to continue making contributions in order to make a claim.
There are only a couple of things to bear in mind when you go and compare income protection insurance. The first is that you need to be as transparent as possible when filling out an application once you have found the perfect deal through our easy-to-use price comparison engine. If you withhold any information about your current health or your employment status, it could mean that you will not be eligible to make a claim or receive any money you have paid into your income protection insurance already.
Next, it’s vital that you remember that there will be an exclusion period at the beginning of your policy (usually of three months), that prevents people from getting income protection insurance once they fall ill. This cover will only provide financial stability for conditions that you are diagnosed with while the policy is active.
When you go and compare income protection insurance, you’ll also see how different insurance providers vary in the length of cover provided when you fall ill. Whereas some policies will give you a percentage of your salary for 12 months, or the length of time you’re on sick leave (whichever comes soonest), other leading providers may offer financial assistance for a shorter or longer period of time. Also, the amount of money that you will be given is another factor that depends on the income protection insurance premiums you pay. Generally, the more money you contribute into your policy, the higher the payments you will receive while you are sick. All in all, it’s worthwhile remembering that income protection insurance isn’t designed to cover your salary on a like-for-like basis, but instead gives you the support needed to cover your mortgage, utility bills and daily essentials such as food.
Income protection insurance might not cover redundancy either, but again, this varies from provider to provider. By doing your research and finding out about the deals that can be tailored to you in minutes using our efficient website, you’re giving yourself a safety net in case something goes wrong will become possible.
