Prepare for the unexpected with income insurance

In a world where nothing should be taken for granted when it comes to financial matters you should never take a risk but instead always plan for the worst case scenario. While none of us likes to think of the worst happening it can and usually comes unexpectedly, it is at these times when you are left saying “if only”, this is the time when you wish you had given some thought to preparing for the worst by taking out income insurance.

Income insurance or income payment protection insurance is a policy which you pay a monthly premium for which then kicks in if you should find yourself unable to work if you should become unemployed, have an accident or suffer an illness.
It will start to pay out once you have been out of work for around 30 days or more and will continue to provide you with a monthly allowance for around 12 months.

When thinking of taking out the cover you should always buy from a specialist provider, an online provider will be able to give you an instant quote which is based on your age at the time of taking out the policy and the amount that you wish to be covered for. Obviously the younger you are then the cheaper you can get the insurance, especially if the provider offers an age related income insurance policy.

As with all types of insurance there are certain conditions which are excluded from the policy and these include any pre existing conditions that you have, with the exception being if you haven’t suffered from it for at least two years prior to applying for the cover.





If in any doubt about whether you are eligible for the cover then a good specialist provider will be able to give you honest free advice when it comes to your needs. Buying the cover independently is the cheapest way o get income insurance and the peace of mind it can bring along with knowing you have a quality product that won’t let you down.

Jason Hulott is Business Development Director of Protection Insurance, an internet based insurance business dedicated to getting consumers the best rates and the best products. Visit our Income Insurance Directory.

In a world where nothing should be taken for granted when it comes to financial matters you should never take a risk but instead always plan for the worst case scenario.

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