income protection

pitza

Does anyone know the best place to buy income protection insurance? I have a policy with unum through a high street broker but wondered if i could get it cheaper online, cant seem to find it anywhere, all i can find is mortgage protection insurance which is short term i require something to cover me untill retirement.

Thanks Pitza.

dunstonh

PHI policies are not well catered for by online quote portals.

The differences between the policies is quite great and the web plugins for quotes cannot handle policies with such differences very well.

If you are intent on dealing only online then you should expect to cover a tiny fraction of the available market (42 major policies available according to a quick check). You should also be prepared to research the differences yourself as this isnt like life cover where the differences are not that great.

Some PHI policies also require full adviser authorisation and cannot be sold under the protection only level which again would reduce the numbers quoted by websites who tend to focus on protection only level cases.

Finally, the product is not very profitable to advisers and the website tend to cherry pick the easy, profitable business and ignore the less profitable side.

MortgageMamma

I wouldnt touch UNUM for PHI, they might be cheap but their policy isnt the best.

What DunstonH is saying above is that you really need to take advice before you buy one. If you tried to make a claim in future you need to know exactly what is and is not covered and how, and find the plan which best caters for your individual requirements.