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Health Insurance and Income Protection

Income Protection Quotes

Income protection can pay you a tax-free monthly benefit of up to 70% of your gross salary if you are prevented from working by injury, illness or involuntary redundancy.

Compare Income Protection Insurance quotes now to see how much you could save.

Income Protection

Income protection can pay you a tax-free monthly benefit of up to 70% of your gross salary if you are prevented from working by injury, illness or involuntary redundancy.

Compare Income Protection Insurance quotes now to see how much you could save.

Income Protection

There are two main types of income protection;

  • Long-term income protection, traditionally known as permanent health insurance
  • Short-term income protection, also known as accident, sickness and unemployment cover (ASU)

Should the worst happen and you cannot work, income protection insurance can act as a safety net and keep you on top of your financial commitments such as mortgage repayments, rent, utility bills, food shopping and lifestyle maintenance.

How does income protection insurance work?

If you are too ill or injured to work and earn a salary, an income protection policy will pay you a pre-agreed sum of money on a monthly basis completely tax-free to help keep you afloat when you need it the most.

If you cannot work because of an accidental injury or debilitating illness you will notify your insurer to confirm your claim. Your GP will be required to confirm your condition to the insurer for your claim to be successful. Most insurers have a claim success rate well over 90%.

If you are claiming involuntary unemployment on your income protection policy you will be required to prove you are no longer working before you can be paid your income protection insurance benefit.

What’s the difference between and long and short income protection policies?

Long-term income protection, historically known as permanent health insurance, provides cover for accident and sickness only; you cannot take out a long-term income protection policy with unemployment cover. Cover usually lasts until you are able enough to return to work or a pre-agreed retirement age.

Short-term income protection, also know also known as accident, sickness and unemployment cover (ASU), replaces your income for up to 12 months in the event of a successful claim.

Does income protection cover unemployment?

Only short-term income protection policies will cover unemployment and it can be included as part of an accident, sickness and unemployment (ASU) policy or as a standalone product.

To be eligible to make a successful claim on your unemployment policy you must;

  • Not be aware that redundancy was imminent when you took out the policy
  • Work more than 16 hours a week on a permanent basis
  • Work at the same place for more than six months
  • Claim after the exclusion period has ended

The exclusion period is the pre-agreed period of time between when you took out the policy and when you can make a claim.

How long does a life insurance policy last?

As with the amount of cover you have, you can also choose how long you would like your policy to last. It may be for a set period of time, for example thirty years, or a whole of life policy that will cover you until you pass away.

What will not be covered by my income protection policy?

Insurers will make it very clear from the outset what will and will not be covered in your insurance policy. There are a few exclusions that will almost always be included;

  • Dangerous occupations or sports
  • Deliberate self-inflicted injury
  • Pre-existing medical conditions relating stress, back pain or routine pregnancy
  • AIDS/HIV related sickness
  • Substance abuse such as alcoholism or drug addiction
  • Any injury or illness inflicted as a result of criminal activity

Long-term income protection insurance policies will be medically underwritten so you know from the outset what will not be covered.

Will my premiums increase as I get older?

The cost of your life insurance policy will not increase unless you have a reviewable policy. During a reviewable policy you will pay the same amount for a number of years, maybe five or ten years, then review your policy to see if the cover is still in line with your requirements. At the point of review your premiums may decrease or increase.

What can my income protection insurance policy be used for?

You can choose to buy an income protection insurance policy to cover any of your monthly outgoings. You may choose to protect your mortgage repayments or rent, you may have a car lease that requires monthly repayments or you could decide to buy a policy to act as an income replacement to help with utility bills, mobile phone bills or TV and broadband contracts.

You can choose how much you want to cover and when you make a successful claim the money will be paid direct to you for you to with as you wish.


Recent great deals...

John just got Income Protection with Legal & General Short Term Income Protection for £33 a month

Rebecca just got Income Protection with Legal & General Short Term Income Protection for £16 a month

Julia just got Life Insurance with Legal & General - Life for £11 a month


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