To see an Inprendent financial advisor or visit the bank.

Malthusian

tacpot12 wrote: »

Aviva do good Income Protection policies. You need an income protection policy. Deferring the payout for 52 weeks will keep the cost of the policy down, as will specifying that the policy only has to cover you if you can do no work of any type.

It will also render the policy virtually worthless for most people. "Any occupation" income protection is a "never-pay" policy. Taking one out is a catastrophic error typical of people who try to do it on the cheap by not seeing an IFA.

Own occupation cover should always be taken out unless you are totally uninsurable on that basis.

A 52 week deferral period should typically be used only if you have a works sick pay policy that covers you for the first year (and then expires). Or if you have a large emergency fund that would last you for over a year, and are relaxed about the risk of depleting it. To most people, an income protection policy that doesn't pay out when you are out of work for a year would feel like a waste of money. That's long enough to exhaust most people's savings and force them to default on the mortgage, or push them back into work when they aren't ready.

newatc

Not a great advocate of IFAs (or FAs) but no contest when compared with bank advisors. if not DIY go IFA.