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Income Protection

Joey2020
Posts: 1 Newbie
Hi, I do hope that I am getting this right – I have never been on Money Chat Forum before.
I am looking for some insurance to protect my income, in other words, income protection.
I would like to buy such insurance in order to safeguard me should I be made unexpectedly redundant.
I do not have a mortgage as I own the house I live in outright (so no need for mortgage protection).
Does anyone know of trustworthy insurance companies that offer fair income protection plans? I have no idea where to go or who to trust and I don’t want to end up with a company that makes it difficult or tricky to pay out should the worst happen.
Can anyone help or advise me on this?
Many thanks,
Joey
I am looking for some insurance to protect my income, in other words, income protection.
I would like to buy such insurance in order to safeguard me should I be made unexpectedly redundant.
I do not have a mortgage as I own the house I live in outright (so no need for mortgage protection).
Does anyone know of trustworthy insurance companies that offer fair income protection plans? I have no idea where to go or who to trust and I don’t want to end up with a company that makes it difficult or tricky to pay out should the worst happen.
Can anyone help or advise me on this?
Many thanks,
Joey
0
Comments
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Joey i was just about to ask the same question. I have a form to the right of me that i picked up from the doctors surgery by a company called MedEx. But its a little pricey and i dont know whether its good value as i have nothing to compare it with.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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Many companies offer this type to mortgage holders only- but some will also have a less advertised and higher priced loan or rent coverAny posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.0
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Many companies offer this type to mortgage holders only- but some will also have a less advertised and higher priced loan or rent coverThis is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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I will look into itdont have a mortgage, i dont have a loan or pay rent
lucky !!
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do you really need income protection then ?Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.0 -
i dont have a mortgage or debts too, nut i have future liabilities i.e kids future tofund etc
i took out an accident & sickeness policy. If i was long term sick or accident, then at least after a few months my basic costs/expenses would be paid.
found liverpool victoria to be the cheapest..but its slighly cheaper to go via a broker.0 -
found one from one of my providers that will cover mortgage, loan or rent plus upto 100%
but can't lay my hands on one that will cover "day to day expenses" against unemployment
Although- whilst looking I did find another brokerage offering what seems like what you are after
( no promises that it does what you want/ what it implies - just sharing my research)
http://www.goodfellows.uk.com/products/day_one_inc_protection_ins/key_features.html#
edit
chipz - they are talking unemployment- not "health related"Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.0 -
I will look into it
lucky !!
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do you really need income protection then ?
If you would payless i would be ever so grateful.
Yes i am fortunate i know, but i still have bills to pay. Last year MrJudi shattered his ankle and was off work for 7 months. He had just gone self employed too!!This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Judi
When I implied limited providers - that was because I was talking about the original poster questionShould I be made unexpectedly redundant
Health related (aka PHI) is potentially easier , as you can take a policy with a longer payout ( most "mortgage payments insurance"/ ASU type are 12m payout only) whereas PHI lasts until set date ( retirement?0 or return to fitness . There's a wide range of providers who offer PHI - ( the link I gave above was to a ASU type 12m option, as thought was talking unemployment cover )
albeit for PHI you need to answer many more health questionsAny posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.0 -
This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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