David Allan

Experly compared by David Allan

Products Updated June 5, 2018

Income Protection

Income Protection insurance is a long term insurance policy that will give you the cover you need should you find yourself unable to work due to illness, injury or the loss of your job. Our experts can find you the best deal from across the marketplace.

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All credit types
Rated 4.8/ 5

Lifes Great Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Provider
Lifes Great

Products
Income & Life Protection

speciality
Income Protection

Lifes Great is an online financial advisor that can quickly find you the best income protection quote from a wide range of provides in the market place. Simply get a quote for a personal illustration.

Available via broker only
All credit types
Rated 4.7/ 5

Aviva

Provider
Aviva Income Protection

Products
Income & Life Protection

speciality
Income Protection

When unexpected things happens, we know that what matters is having peace of mind from a policy you can trust. Aviva's Income Protection cover is very straightforward, simple to arrange and is individual to you and your families needs.

 

FAQ's

What is income protection?

The policy acts as a financial safety net and replaces part of your income should you be unable to work through ill health or a disability. Income protection insurance will provide you with a payout while you unable to work, up to the point when you are well enough to return to a working environment, you retire, your policy expires or if the worst were to happen and you were to pass away.

If you find yourself in the unfortunate position of no longer being able to work, Income Protection Insurance will provide you with the cover you need. The majority of policy holders set up a payment order to begin when their sick pay comes to an end or when any other cover/insurance policies expire which result in you being financially vulnerable.

Unlike other forms of insurance, when you put income protection insurance in place you can submit a claim as many times as you wish. Payments will only be made if valid reasons are given and you have the right cover in place – so consider taking out an income protection policy today.

How does it work?

If you have an Income Protection insurance policy in place and you lose your job or find yourself unable to work for a period of time due to an illness or you become disabled you will be covered. As the policy holder you will receive a fixed sum on a monthly or weekly basis that is tax free. The agreed sum would be paid once the waiting period has come to an end. The waiting period is usually referred to as the deferred period and the longer the waiting period, the lower your premium will be.

What are the features?

Income Protection Insurance comes with a range of features and these include:

  • The policy offers monthly payments should you be unable to work
  • Covers you for accident and sickness or unemployment
  • There are a range of policies available with a range of cover. These are - Re-viewable policies, guaranteed policies and age related policies.

What are the benefits?

There are many benefits available with Income Protection and these include:

  • Cover that provides you with financial support should you lose your job or find yourself unable to work due to an illness or should you become disabled.
  • Peace of mind for you to know that the bills and any debt can still be paid should you be out of work.
  • A wide range of policies available to suit your needs.
  • The policy holder can make a claim as many times as required.
  • The monies released to you would be paid regularly, either weekly or monthly.
  • You can have total confidence in the policy because it will continue for as long as you wish and can be renewed providing you continue making payments.

We are independently reviewed by our verified customers and web users:
Rating: 4.6 / 5 with 25 votes

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