Which Income Protection Policy?

What are the different types of Protection?

At Protect Income Insurance we explain the many different options available for you to protect your household income. The biggest choice to make relates to the two main types of Income protection policy:

1) Short-term Income Protection policies: Which are otherwise known as Accident, Sickness and Unemployment (ASU) products, will generally only pay out for one or two years.

2) Long term Income Protection: These will usually provide a regular income if you are unable to work due to illness or disability until you are well enough to return to work, or until the end of the policy term.

Short Term Protection

There are many different Accident Sickness and Unemployment policies available These include Payment Protection Insurance (aka PPI) and Mortgage Payment Protection Insurance (aka MPPI). Payment Protection Insurance for example, usually meets the cost of a specific debt, preventing you from defaulting. Mortgage Payment Protection Insurance will cover the cost of mortgage payments for a specified time. Many Short Term Income Protection policies do not need to cover a specific debt; they can simply be used to fund your lifestyle in the event that you lose your income. We have further information on our Accident Sickness and Unemployment guide.

Long Term Protection

Long term Income Protection. Will usually provide a regular income if you are unable to work due to illness or disability until you are well enough to return to work, or until the end of the policy term. Unlike most Short Term Income Protection policies it will generally not cover you if you are made unemployed or redundant.  When choosing Long Term Income Protection cover, make sure you know exactly which kind of plan you are buying as there are commonly two types, 'own occupation' and ‘working tasks’.

For more information on Short Term and Long Term Income Protection, see our income protection insurance guide.

At protect-income-insurance we work with you to provide an individual solution. This will offer the level of protection that will help out on those rainy days that may happen.

Helping You With Income Protection

As with all Insurance products, Income Protection can be quite daunting to fully understand. At Protect Income Insurance, our advisors are highly trained in how the products work. Our specialist team have years of experience in helping families protect their incomes. Each free quote we offer to new or existing customers is calculated to match both the budget and coverage needs.