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Income Protection Policy Inflation
croboy
Posts: 119 Forumite
Hi,
I have a income protection policy that has paid the same for last 3 years. If it is not covered for inflation will it just be the same forever as this would render it useless if it went on indefinitely??
I have a income protection policy that has paid the same for last 3 years. If it is not covered for inflation will it just be the same forever as this would render it useless if it went on indefinitely??
0
Comments
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If you dont include any indexation then it remains level until you increase the sum insured manually.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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as the level of cover does not change over time you have to reevaluate your needs and stage at any given time. for example in my own position i would be better off taking early retirement than relying on a policy like this if unable to work because of medical problem. everyones situation and stage of career will be different.0
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