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Income protection is this good value?
oysterman
Posts: 749 Forumite
Through my union i have been offered income protection. The premium is £5.52 p/w, that would then pay me £1300.00 p/month for up to 2 years. Also if i was unable to work again a tax free lump sum of £31,200. Is this good or can i get something else better.
Cheers in advance
Cheers in advance
if i had known then what i know now
0
Comments
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If it is proper income protection (PHI) that you are after, then its pretty poor value. If its just a mortgage, unemployment and sickness plan, then it isnt bad pricing. However, what options have they left out or what terms have they imposed to make it that price.
These things are not all the same.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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