This type of protection is designed to cover you if you cannot earn your income. This is usually in the event of you becoming seriously ill or injured. If you are unable to live on your savings or on sick pay from your employer, this form of protection could be suitable.
Income protection cover otherwise known as a permanent health policy, is very similar to Critical Illness Cover. However, this policy is designed to cover less severe circumstances. It’s designed to continue to supply the policy holder with regular income until they are able to return to work.
You can adjust policy features to your needs, the more you exclude the lower the premium. In a lot of cases the policy holder can implement a claims waiting period. This is a time within which you are unable to make a claim. This policy type for is for a fixed term, within which you can claim as many times as you need to during the policy term.
What isn’t covered with Income Protection Insurance?
It is difficult to say what would and would not be covered, as a lot of this depends on the choice of cover. As mentioned above, the policy holder can adjust the policy terms and conditions accordingly, the more you exclude, the lower the premium.
Why choose MAIN for Income Protection Insurance?
We have access to a panel of underwriting insurers and will take your needs and preferences into consideration. We also have access to exclusive rates and features. You may have the ability to compare the market online these days, however, we can combine levels of cover and adjust terms to suit your needs.
We are here to answer any questions or queries you may have about the policy, you may also want to cover against a specific illness, we can help. Simply give us a call or book an appointment today.