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Considering Imcome Protection
katy123
Posts: 365 Forumite
I'm considering buying Income Protection, but struggling to work out when it will exactly pay out, the obvious ones are stress, back pain etc. but what is one had cancer and required treatment for it. Will it kick in as cancer does not prevent me from working but I choose to not work to go for treatment?
Also, lets say you are on £40k, normally it's limited to 60%, what happens if you take a pay cut to say £20k. Is it still 60% based on £20k? If so, then it's a bit pointless as you are covering 60% of £40k but end up with a pay out of 60% of £20k.
Also, lets say you are on £40k, normally it's limited to 60%, what happens if you take a pay cut to say £20k. Is it still 60% based on £20k? If so, then it's a bit pointless as you are covering 60% of £40k but end up with a pay out of 60% of £20k.
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Comments
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You need to look at the websites of financial institutes retailing the type of insurance you are considering.
As with any purchase, you should compare and contrast the cost and various benefits offered.
If you want an insurance package exactly tailored to your needs, you should see an Independent Financial Advisor.
Do note that this forum is for discussion about mis-sold insurance, not to advise about current insurance needs.0 -
Go here and ask
http://forums.moneysavingexpert.com/forumdisplay.php?f=21Non me fac calcitrare tuum culi0
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