How does income protection work when changing jobs?

IAMIAM

I have a permanent income protection policy with L&G, fixed until age 70. I took it out when I had an office role, but I've noticed while reviewing it that my job has changed to a slightly higher risk role after I've moved around for different jobs. Am I right in reading correctly, that it doesn't matter because the job role at the time of policy start is what sets the premiums and I can change jobs all the time, the premium is permanent?

csgohan4

income protection works by giving you a set proportion of your income, usually up to 60%, you generally don't need to tell the insurer you changed jobs or have a new health condition as all of that was done at the underwriting stage.

When you do claim, you will be expected to show your SA302 or p60/ payslips to confirm your salary, and indeed your job role is not really relevant

IAMIAM

Great. So in effect, the policy is now in place and underwritten, so job changes are irrelevant between now and age 70. The premium remains fixed and in place until then. Any claim is based on job at the time, salary at the time and doctor reasons for being unfit to work etc.

csgohan4

IAMIAM said:

Great. So in effect, the policy is now in place and underwritten, so job changes are irrelevant between now and age 70. The premium remains fixed and in place until then. Any claim is based on job at the time, salary at the time and doctor reasons for being unfit to work etc.

Yups, certainly a must do for new posters looking at these. Especially if you have dependents and a things to pay