Income Protection Insurance

Flappy_Chicken

Hi MSE Fans :P

Does anybody know where I can get advice on the t'internet regarding Income Protection Inurance?

Thanks

Flappy! :beer:

dunstonh

It's a regulated financial services product so the same compliance requirements for advice exist whether its face to face or distance. This doesn't stop it happening but the internet is more positioned for execution only/direct offer basis (no advice).

Some of the internet based firms will give advice but this typically means moving to telephone and/or sending documents back and forth via email/post.

permanent health insurance (the name for income protection) is a more complicated product in that there are many different levels of cover and the coverage and terms is not standardised between providers. Some of the products also do not fall under general insurance regulation but fall under investment class regulation and those versions will not be included where the firm isn't authorised to discuss investment class business. It is also generally low profit for the work involved. This doesn't give much scope for discounting and that doesn't fit with the usual internet business model.

clairehi

There is an article about it on fool.co.uk which outlines the differences between policies such as

-guaranteed vs reviewable premums
-are you covered if you are not able to do your own job, or any job
-fixed payout or index-linked
etc

You can also click through from the site to an online broker (IDOL) to get quotes.