Income protection Insurance.

[Pickingpaul]

ive just brought my first house and getting a mortgage soon so i was looking into getting some income protection. I got some quotes through gocompare to give me an idea of prices and i was quite happy with what i heard

Its accident and illness cover so u need a doctors nots, first month doesnt count, so have to be off for more than a month.

I was quoted £35.52 a month to receive £1200 a month for as long as i was off for or until im 65.

Or u can have a policy where u will pay less @ £15.60 a mo th a you get £1200 a mo th still but for a maximum stretch of 12 months.

These prices go up and down naturally depending on how much u want to receive, roughly £5 a month more to gain an additional £200 a month

So i was wondering if anyone has this and any advice?

 

[Taxlossloz]

ive just brought my first house and getting a mortgage soon so i was looking into getting some income protection. I got some quotes through gocompare to give me an idea of prices and i was quite happy with what i heard
Its accident and illness cover so u need a doctors nots, first month doesnt count, so have to be off for more than a month.

I was quoted £35.52 a month to receive £1200 a month for as long as i was off for or until im 65.

Or u can have a policy where u will pay less @ £15.60 a mo th a you get £1200 a mo th still but for a maximum stretch of 12 months.

These prices go up and down naturally depending on how much u want to receive, roughly £5 a month more to gain an additional £200 a month

So i was wondering if anyone has this and any advice?

Yeah - get some ! You can squander £15 a month on bars bars or have peace of mind ..

 

[MrBump]

Definately get some, I wish I had! I got some quotes from simply business to cover loss of earnings and seemed reasonable. Not sure if the terms and conditions were the same though. You can't buy piece of mind... Oh yeah, you can for 15-35 quid :thumbsup:

 

[Simply Business]

I actually thought it was you who started this thread when I saw it @MrBump! How're you getting on btw? Hopefully progressing well?

@Pickingpaul, if you're after a case study as to why it may be important, look no further than @MrBump (sorry for the reminder @MrBump :thumbsdown

 

[Natty1972]

My auntie took out that sort of policy , when she needed it , it turned out to be :turd:. not worth the loo paper it s written on .

 

[Jake]

My auntie took out that sort of policy , when she needed it , it turned out to be :turd:. not worth the loo paper it s written on .

There's probably a shed load of small print, and my guess is that if you have a partner working, they won't payout, and if you have savings they probably won't either...

 

[MrBump]

I'm reminded of it constantly simply business don't worry. Its healing, thanks, although I had to quit half way through a job today as I was in agony. I guess 10 days isn't enough to heal a broken arm, damnit!

Jake I doubt it would have anything to do with your savings, or if a partner works, its loss of your earnings not some kind of government benefits. There would definately be some small print though and it would need to be proven to be genuine, ie. A broken arm /emoticons/wink.png But I doubt the flu or the excuse your dog ate your hose would work /emoticons/tongue.png Just make sure you ask the relevant questions beforehand, basically you want to know if your covered for things such as; serious injuries, loss of equipment, ie. if somethings stolen stopping you from being able to work and maybe if your lucky faulty equipment, say if your van breaks down or something breaks - you might need a newish van for this though. That would cover most scenarios, then little extra's like maybe you are being sued or something and can't work until its all cleared or something, but I'd just care about cover for injuries and loss of equipment and when my vans off the road (its only 18months old) as it was meant to go in to the garage for 5 days a few months back, but they kept it in for 15 days, so I lost an extra two weeks work thanks to those numpties! I will definately be taking out insurance within the next couple of weeks as I get back to work!

 

[Simply Business]

Can't really comment on other similar policies, but in terms of ours, it has to be a personal accident (i.e. a one-off incident that has stopped you from working).

If you've had a chronic bad back for years etc, this sort of thing isn't covered, it's for one-off accidents such as @MrBump's where one day you're fine and the next you're unable to work for a while!

Hope that helps /emoticons/smile.png

 

[DanielT]

Can't really comment on other similar policies, but in terms of ours, it has to be a personal accident (i.e. a one-off incident that has stopped you from working).
If you've had a chronic bad back for years etc, this sort of thing isn't covered, it's for one-off accidents such as @MrBump's where one day you're fine and the next you're unable to work for a while!

Hope that helps /emoticons/smile.png

I'd be interested in finding out more.

 

[Cghwindowcleaning]

I have income protection for peace of mind.

it pays out in the event I am unable to clean windows due to injury or illness regardless of who's fault it is,what savings I have or if I am fit enough for a desk job,if I can't do mine it pays out after 1 month.

 

[Simply Business]

I'd be interested in finding out more.

Hey @DanielT, great /emoticons/smile.png In terms of our personal accident cover, we can only provide it in addition to a business insurance policy (public liability etc), however, if you'd like to perhaps talk to one of our consultants I could set that up for you?

They'll be able to give you the ins and outs of the personal accident cover itself /emoticons/smile.png Let me know on here or feel free to drop me a private message /emoticons/smile.png

 

[windowsurfer]

Thought about this aswell, im sure my accountant says this can go through the books as well, as it relates to your work, I looked at one, it was called "Bills and Things" only paid out £800 for about £28ish a month, cant remember exactly, paid out after a month, then up to 2 years max, then finish.