Income Protection insurance pays you a regular income if you can’t work because of sickness or disability and continues until you return to paid work or you retire. Income protection policies pay the monthly benefit after the deferred period. Income protection insurance is also known as Permanent Health Insurance. The level of benefit will dependent on your income.
Types Income Protection Policies
- Full Term Income Protection – this policy pays you a regular income if you cannot work because of sickness or disability. The monthly benefit continues until you return to paid work or you retire. This is a permanent contract which means the insurer cannot cancel your policy following a claim.
- Short Term Income Protection – this cover is similar to full term Income Protection Insurance but only pays the benefit for a shorter period for each claim.
Income Protection policies are underwritten based on your occupation, health and lifestyle. Insurers use different terms to define incapacity. Hence it is very important that you take professional advice from a qualified adviser for arranging this type of cover.
Why choose us?
- We will review your existing policy free of cost
- We offer Income Protection policies from a range of insurers
- Impartial advice from professionally qualified advisers
- We will help you understand the definitions used in different Income Protection policies