Fee based Income Protection ??

JesseJames_2

Hi

Just in the process of getting insurances for my remortgage.

In Martin's newsletter a few days ago there were fee based insurance websites for life insurance which worked out over 10% less than the quotes I got from Moneysupermarket, Confused, etc.

I would like to know if there are any good sites for Income Protection that are fee based?

Specifically I am looking for Income Protection deferred for 52 weeks and pays out for as long as you need it. Age 40 next birthday, non smoker, good health.

Also which Insurance companies are particularly good with this type of insurance?

thanks JJ

dunstonh

Permanent health insurance has very poor coverage on the internet. Mainly as it is a low profit, high workload product where the companies differ quite a lot in what they offer. Price alone isnt the only guide. You have budget, standard and comprehensive plans but providers dont tell you what theirs is so you need to research the differences yourself.

If you want to go fee basis, then any IFA in the country can do it fee basis with no commission taken.

JesseJames_2

thanks dunstonh

The quote I have with AXA does not say which type of plan it is but the details are...

£600pm cover for illness or injury
own occupation
level guaranteed
20 years
deferred 52 weeks

Income protection cover
Rehabilitation cover
Proportianate cover
Guaranteed options
Hospitalisation cover

£8.07pm

Would that be about right, I think AXA initially quoted around £10 but this is a quote within a bigger quote paired with critical illness cover.

I'm now slightly concerned this might be a bit low, and that this might be a 'budget' cover.


thanks JJ

dunstonh

That's looks like the budget version. Budget plans are not worth the premium.