Income Protection Insurance ?

deb788

Hi

I have only recently heard about this type of insurance and wondered if anyone could recommend an insurer that they have had a positive experience with ?

I need about £700 per month of cover ideally to cover illness and job loss ?


hope someone can help

many thanks
:oDebbie

dunstonh

Are you after permanent health insurance types of income protection or payment protection type of income protection?

Do you intend to buy direct or through an IFA?

payless

insurance Guru- well intentions maybe, but on these forums , those in the finance industry are not allowed to make such recommendations nor request PMs

stephensdan

I'm looking for similar reccomendations.

IProtect seem to offer the best quote that I've found online so far. It's about £15 p/m for a back to day one £600 a month pay out.

Which would cover the mortgage if my partner became unemployed.

I'm still looking through the details and looking at other sites.

https://wessex-extranet.co.uk/quote/iprotect/StartIProtectQuote

Actually, compare the market seems to list all the sites I've been looking at. I'm giving that a go.

OK last edit, sorry!

http://www.helpucover.co.uk/product/income-protection/page/income-protection-cover/

This is the best quote generator I've personally found after scouring around the net and their terms look the best as well, covering for redundancy and up to 60% of monthly income. It gives 6 months cover for £13.92 p/m for about £600 from what I can see. I don't know if any of you have any experience with helpucover???

dunstonh

I'm looking for similar reccomendations.

IProtect seem to offer the best quote that I've found online so far. It's about £15 p/m for a back to day one £600 a month pay out.

Iprotect is a budget PPI version of income protection. So, from that, we assume you are only interested in the budget income protections which are not underwritten at point of sale but at point of claim?

deb788

Hi well i'm confused !


I just want a policy that will pay out if i lose my job through no fault of my own or if i am unable to work due to sickness ? do the budget income protections not offer this ?

thanks for the replys

OshayAway

deb788 wrote: »

Hi well i'm confused !


I just want a policy that will pay out if i lose my job through no fault of my own or if i am unable to work due to sickness ? do the budget income protections not offer this ?

thanks for the replys

They do in therory but the reality is that the AS (accident & Sickness) part of ASU / MPPI / PPI cover is the poor cousin of 'proper' income protection 'PHI' (or permanent health insurance to give it it's proper name). The former (in all but the minority of cases) apply automatic exclusions that make them very difficult to claim on.

On the other hand, PHI plans are underwriten at application stage and have very few exclusions, in some case non at all. There are other benefits as well such as the fact that the provider can't cancel your cover and guaranteed premiums are available so you won't have the experience of some posters on here who have had their ASU premiums doubled, trebled or more.

yelf

deb788 wrote: »

Hi well i'm confused !


I just want a policy that will pay out if i lose my job through no fault of my own or if i am unable to work due to sickness ? do the budget income protections not offer this ?

thanks for the replys

Yes - they cover this for upto 24mths. PHI will pay out until you retire but doesnt cover redundancy.