Income Protection

Starbrite

Woo Hoo, Been at my job 3 mths come the end of Jan. I've just been given all the forms for the benfits I am entitled too usual stuff - pension plan, health care and Income protection

Having never heard of Income Protection before I thought I'd come here and find out all


It's with a company called Unum:
http://unum.co.uk/

I have the chap who sorts all the benefits out coming in next week to talk to me about it all. However looking for a heads up on the subject.

Does anyone know anything about this? if so please enlighten me


Many thanks

InsideInsurance

What do you want to know about it?

It comes in 2 varieties:

PHI - this is the full fat version and pays out until a pre determined age (normally 60-65)

AS - this is the lite version and normally pays out for a maximum of 1 year

As a work provided policy you just need to ensure (a) if pre-existing conditions are covered - normally they are but worth checking if you have any and (b) what happens to your payments should you be dismissed as a result of long term sick

dunstonh

Unum offer many different types of income protection products. Some are little more than glorified payment protection plans whilst others are more in line with decent permanent health insurance plans (the best form of income protection).

If the company is paying for it then you take it unless the benefit in kind tax and cost makes it better to get your own.

Without knowing the type of product your company offers, it isnt really possible to give comment other than to say that income protection is a form of income protection in the event of certain events that stop you from being able to work.

Starbrite

Thank you

I'm after a general what is it answer really, as having never heard of such a thing before.

Also Thank you for the questions to ask, when I now more after next week I know where to come

Thank you