Income Protection Insurance
Income protection Insurance is a way of guarding yourself against life’s more unpleasant surprises, providing financial help if you are unable to work due to sickness, injury or unemployment. After all, nothing in life is certain. We never know what surprises are waiting for us just around the corner.
Also referred to as Unemployment Insurance, Redundancy Insurance or Accident and Sickness Insurance, Income Protection Insurance is designed to pay out a set amount of money on a monthly basis helping you keep up with mortgage or rental payments, bills and other regular outgoings.
Basically it helps you keep your head above water.
There are various types of Income Protection cover so it’s important to shop around to be sure you select a plan that gives you the best level of protection at a time when you need it most.
That’s where we can help. You will find everything you need to know about Income Protection at Over50choices. Our comparison table will help you compare Income protection Insurance quotes from some of the leading insurers, giving you the opportunity to shop around for the best deal.
What is Income Protection
Income protection provides monthly financial support for a set amount of time if you are unable to work due to sickness, an accident or unemployment. It allows you that breathing space, helping to make ends meet until you are well enough to return to work or get another job.
Short term income protection will give you cover for between 12 and 24 months. You can choose whether you want cover for all three eventualities (accident, sickness and unemployment insurance) or just accident and sickness insurance. Income protection provides cover for a much longer period, sometimes up to retirement but doesn’t tend to provide unemployment insurance.
If you think you might not be able to meet your monthly outgoings if you were off work for some time, or are concerned that you wouldn’t have redundancy or sick pay or any other employee benefits to fall back on, income protection might be worth thinking about.
To understand more about the different levels of cover, take a look at Types of Income Protection. Alternatively if you want to compare income protection quotes and see what cover is available just click on the ‘get a quote’ button