Tuesday May 13

Income Protection Insurance Online Quote

Income Protection Insurance Advice

Discounted Income Protection Insurance Premiums

On Income protection insurance term, life insurance and critical illness insurance we rebate a minimum 50% of the initial commission that the provider would have paid to us back into your policy reducing the cost of your monthly premiums.

Income Protection

Income Protection insurance or Permanent health insurance aims to give you an income if you can't work in the event of sickness or illness.

This can be anything up to three-quarters of your normal wage, less any state benefits you get. For the self-employed, insurers usually base the level of cover on your taxable income at the point of a claim.

All pay-outs for income protection are tax free and usually continue until you recover or you reach your selected pension age / term of the policy. more

Income Protection Pros and Cons

Pros

• Will be beneficial if you or your family relies on your wage to pay most of the bills and if you want the security of continuing pay outs.
• May be useful if you are self-employed or don’t have a job with sick pay.
• It's up to you how you spend the money each month.

Cons

• This is one of the more expensive forms of this type of insurance if you have a short deferment period.

Income Protection Insurance Explained

Permanent Health Insurance, also known as income protection and income replacement, provides a tax free income if the policy holder becomes unable to work through illness. An income is paid until retirement age , the end of the policy term or until the policy holder is able to return to work..

Permanent Health Insurance does not normally cover unemployment / redundancy.

There is a period following the accident or illness which must elapse before the policy begins to pay. This can range from a month up to two years and is known as the deferment period.

Most income protection policies will give a stream of monthly tax-free payments equivalent to between 50% and 65% of gross salary, although some companies will offer up to 75%

Premiums are dependent on the monthly income required, age, current state of health smoker status and occupation. The deferment period also affects the premium, with a shorter period resulting in higher premiums being required

Many company pension schemes include some form of permanent health insurance as part of their benefits package. You should check you benefits package before applying for an Income Protection plan as these can affect your maximum benefits allowed. If you are unsure please speak to an independent financial advisers.

Income Protection Insurance Quote

Our Income protection insurance quotation tool allows you to compare the leading insurance companies income protection premiums. What's more Go Direct guarantee that at the time of application you will not get cheaper like for like cover as we rebate 50% of the initial commission the provider pays us back into your income protection insurance policy

Do you want Advice on Income protection insurance?

After looking through the income protection insurance information if you would like Income protection insurance Advice , complete our life insurance enquiry form and we will contact you to discuses your income protection insurance and protection needs.

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