About Income Protection For Pre-existing Conditions
Income Protection Insurance, even if you have any pre-existing illnesses or conditions still offers a variety of things you are protected against. The mains ones are accidents, sickness and unemployment cover.
You are typically able to protect a percentage of your gross salary, it is mainly designed to protect and replace your income should you become unable to work due to ill health or a disability. The policy will pay out a monthly or weekly tax free sum, which can be used to ease and support any financial struggle while you are unable to work.
Income protection that covers you if you have a pre-existing condition or illness
You will be protected/covered either until you are able to return to work, you retire, your policy expires or if the worst happens and you pass away.
Once you have put income protection insurance in place ,even if you have any pre-existing illnesses or conditions you can submit a claim as many times as you wish providing the claim is not due to any of your pre-existing illnesses or conditions- so you should consider taking out an income protection policy today.
Example conditions include:
- Heart condition or heart attack
- Ulcerative colitus
- High cholestrol
- Crohns disease
- High blood pressure
- MS – Multiple Sclerosis
- Larkinsons disease
How Does It Work?
Income Protection Insurance will work in the same way for you regardless of whether you have any pre-existing conditions or illnesses providing your claim is not as a result of these. If you have this policy in place and you lose your job or find yourself unfit to work for a lengthy duration due to ill health or a disability that is not linked to any of your existing illnesses or conditions you will be covered and you can proceed with a claim.
If you have this policy in place and a claim is made you will receive a fixed sum on a monthly or weekly basis that is tax free. The agreed sum will be paid to you once the waiting period, known as the deferred period has come to an end. The longer the deferred period is, the lower your premiums are.
There are numerous features with Income Protection Insurance and these include;
- The policy will support and cover you financially should you be unable to work
- Covered for accidents, sickness or unemployment
- You still have a number of choices available to you in terms of policies and these are- Re-viewable policies, guaranteed policies and age related policies.
What Are The Benefits?
There are many benefits that come with Income Protection Insurance, and these are;
- Peace of mind for you, because that your bills and any outstanding debt will still be covered should you be unable to work
- Covered financially if you lose your job or are unable to work due to an illness, condition or disability that is not related to any current or health issues you suffered before the policy was purchased
- A number of policies available to ensure you have the right cover that meets your every needs
- A claim can be made as many times as you wish or need
- Confidence in the policy as the cover will continue for as long as you require it and can be renewed providing you pay your premiums
- All monies released to you will be paid regularly, either weekly or monthly and is tax free