Archive for the ‘Income Protection Insurance’ Category

Take control with income protection insurance

Monday, February 27th, 2012

Income protection insurance can help you look after your family if you were to be out of work. There are many different reasons why you may be out of work, you could have been in an accident or you could be seriously ill, neither of which you would have any control over but you can have control over whether or not you will have insurance cover which can help you while you are out of work. If you want to be protected then ensure you take out income protection insurance which will allow you to receive a payout which is on average about 65% of your income. Do not worry you will not be paying any tax on your payout so you can spend the whole amount looking after your family. Your payout can help you meet those every day bills such as your mortgage or rent and your utility bills.
Income protection insurance companies can provide you with an income protection policy which will offer you all the cover that you require. If you contact any one of the many insurers or comparison websites out there online they can help you find your policy and ensure that it offers you the very best cover and is affordable for you.
You will find that income protection insurance is a great benefit and for very little each month you could protect your insurance ensuring that if you were ever out of work you would not lose your whole income. You would only lose a minimal amount of income with income protection cover.

The factors that are affecting the cost of income protection insurance.

Wednesday, February 22nd, 2012

The price of IPI widely varies based on a range of different factors in a person’s life such as your occupation, your annual income, the waiting period and your age and gender.

Different insurers have different opinions on which occupations have more risks than others, so any potential customers are ranked on the basis of how likely they are to claim in the future. Low risk occupations, which usually involve little manual work such as administrative staff and managers, are more than likely to have lower premiums. Conversely, high risk occupations such as manual workers, whether skilled or unskilled, are very likely to be subject to higher premiums. The logic behind this is due to the fact that many manual workers use heavy or dangerous equipment that naturally puts them at a higher risk of injury.

The buyer must declare all components of their annual income in order to get the right estimate, since income protection covers are tax deductible. Also the buyer will most probably have to pay 1%-3% of their annual income, depending on what policy they have chosen.
If the IPI claimer is financially able to survive for a longer period of time while out of work, the lower the premiums will be. So the longer the deferred period the better it is for you, but obviously this depends on factors such as: whether or not you are eligible for a generous sick pay from your place of employment. The deferred period can be as long as a year, however if you feel you cannot manage without your payments, a shorter deferred period can be put in place for as short as four weeks.

And the final aspect that could have an affect on the price of your IPI is a persons age and gender. Naturally a persons body deteriorates as they mature so it is very likely that the older the person is the more they will pay. Likewise a persons gender can also affect the amount of premiums and women are likely to be subject to higher premiums than men; due to the fact that women are said to claim on income protection insurance more than men, and are supposedly more likely to retire early.

So for the most cost efficient income protection insurance on the market, get authorised professional advice and full market research from any income protection provider.

The best place to go for advice on looking for your income protection insurance.

Wednesday, February 15th, 2012

At Income Protect they are able to offer you the best insurance plans out there on the market today with help such as: discounted premiums, full market research, authorised professional advice and a full comparison of the leading UK providers on the market right now. In the grim and daunting unemployment situation so many people have to face at the moment it is especially important that you get the most professional advice available to ensure you are in the best place possible if it was to happen to you.
Many income protection insurance plans out there do not offer a policy that covers the most diverse of situations. An example of this is you were to lose your job through suffering from a mental illness rather than a physical illness you may not be insured against your loss of employment; which is why many income protection comparison sites they offer an extreme sweeping search of what you are looking for and what different companies have to offer to suit your needs at the best price possible.
So in case of accident, illness or redundancy you are sure to be covered by the most cost effective and comprehensive insurance plan on the market. Offering both you and the loved ones you provide for the maximum security against such detrimental situations that you may or may not come to pass, but as the saying goes: “it is better to be safe than sorry.”

Income Protection is worth taking out!

Tuesday, January 10th, 2012

There are many different forms of insurance available to you but how do you know which insurance is actually worth purchasing?
Individuals do not think twice about purchasing insurance for such items as cars or homes because it is known just how much they’d be devastated if anything was to happen and couldn’t afford to fix it. People insure their cars because it is illegal not too but if you were to be in an accident and your car was written off it is highly unlikely that you would be able to instantly replace it which is why your insurance comes in handy because you receive a payout which allows you to purchase a new car.
One thing many do not usually think about insuring is themselves and making sure that they are protected; and in this respect the focus is  not about life insurance but about insurance which will be useful to you when you are alive, like income protection insurance.
Income protection insurance works very similar to car insurance, if you were out of work due to an accident or illness you would struggle to meet your financial commitments but having an income protection policy means that when you make a claim you will receive payouts almost like a replacement wage allowing you to continue to meet your financial commitments.

Look ahead to the New Year with income protection insurance.

Thursday, December 29th, 2011

If you are planning on looking ahead to the New Year you may find it beneficial to take a few moments out to think about how you would cope financially if you were to be out of work due to an accident or illness this coming year. Many people would find that they would be in financial difficulty because of how heavily they rely on their income to pay the mortgage and bills and they will worry throughout the year about what would happen if they were to be out of work. You can save yourself from having this worry if you were to take out an income protection insurance policy. This is because you would have the peace of mind that if you were to be out of work then your insurance policy would pay out allowing you to maintain your financial commitments with very little difficulty.
The New Year is a time to be happy and look ahead to all of the things you would like to achieve in the coming year and so you should ensure that you can look ahead to the good times and not worry about the bad times that may or may not come by taking out an income protection policy with a trusted income protection insurance provider.

Income protection insurance can be beneficial to you.

Thursday, December 22nd, 2011

Income protection insurance offers you an array of benefits. The main benefit that it offers you is a replacement income, the replacement income you receive will allow you to maintain your financial commitments such as your mortgage, bills and loans. Having an income protection policy will also reduce the amount of worry you may have when you lose your job as you have the reassurance that you will still have a source of income even though it may not be the same as what you are used to.
When you choose to purchase income protection insurance, you along with your insurance provider will choose how long your payments will be deferred for, this means you will choose how long you wait between making your claim and when you receive your first payout. The short the deferred period the more your premium is likely to cost you, however if you know that you would not be able to manage very long without your income then it may be wiser to pay the higher premium.
Your insurance premium will depend on your age, health, occupation, smoker status, the amount of cover you require and more. The younger and healthier you are the cheaper your premium will generally be, if you are a smoker your insurance premium will be more than that of someone else who is the same age, is in the same state of health and who has the same occupation, this is because there are many well known health risks which are more likely to occur if you are a smoker.

Protect your income this Christmas!

Monday, December 19th, 2011

Income protection insurance could be very beneficial to you at this time of year. The specialist insurance companies know that losing your income is devastating at any time of year, however you may find that it has even more devastating effects at this time of year. Losing your income at this time of year could make this Christmas one of your worst ones to date, especially if you have a young family at home who will be expecting Santa to bring them lots of presents. Losing your income at this time of year will cause you extra worry on top of worrying about how you are going to be able to afford to maintain your financial commitments. Christmas and New Year are supposed to be joyous times but you will not be feeling particularly joyous if you have lost your job.
Income protection insurance will allow you to feel secure if you were to lose your job at this time of year as you would be aware that once you have contacted your insurance provider you will be able to find out when you can expect to receive your insurance payouts which will help you cover your financial commitments, and without this added worry you will still be able to enjoy Christmas and New year.

Protect yourself and your income with income protection insurance

Thursday, November 17th, 2011

We all constantly think about insuring our cars, and insuring our homes but how often do we think about protecting ourselves? Many people think that when it comes to protecting themselves then life insurance is the only answer but in reality they are not protecting themselves they are just ensuring that their family is not left without. You need to protect yourself while you are still here and by protecting your income not only are you protecting yourself but you are protecting your family.

Most households have one person who is the main breadwinner, take a moment and think what it would be like in your household if that main source of income was taken away. In most households finances would soon become a major problem because that income is relied on to pay the mortgage, pay for the car, to pay the utilities and everyday luxuries. Some households only have that one source of income and so in moments they could lose everything and they could soon be heading towards masses of debt. There is one way you can stop this from happening or at the very least reduce the effects it will have and this is by taking out an income protection policy.

Minimise the impact of being out of work with income protection insurance.

Tuesday, November 1st, 2011

Income protection insurance offers an array of benefits to the policy holder, including peace of mind that you will be protected if you were to be out of work. Being out of work is not most people’s idea as fun because they know that without the income things can easily become very difficult for them. Many people struggle when they know they know that they are receiving a regular income and so without one they could very easily fall into large amounts of debt, which can cause many more problems than simply losing a job (with income protection cover) can do.

Having income protection insurance gives you the peace of mind that you require when you lose your job, you do not need to worry as much about your finances and you can focus on finding yourself a new job. As always with the loss of a job adjustments will need to be made to suit your new financial circumstances but with income protection insurance in place these changes do not need to be severe.

The insurance policies from a wide selection of income protection insurers will allow you to receive a weekly or monthly tax free payment of on average 65% of your salary, which will be paid until you find yourself in work, until your retirement age or just simply for a set amount of years after you start claiming on your policy.

Ensure you don’t face uncertainty with income protection insurance.

Thursday, October 27th, 2011

Many people in the UK have not taken out income protection cover and those people may face uncertainty if they were to lose their job due to an accident or illness. You can ensure you are not one of those people by taking out an income protection insurance policy today. For a small monthly premium you can receive up to 65% of your income if you were to be out of work. Your payout would be paid to you in weekly or monthly tax free payments very much so like your wage and the payout is really a replacement for the wage you will have lost.

If you wish to learn more about income protection insurance or have any questions you wish to ask, contact a financial advisor or any of the income protection specialists online, where they will be able to help you with any queries you may have. They know that understanding about income protection is key to you choosing the right policy and so they will happily help you with both understanding income protection and choosing the right policy. All of the advice from the many teams of advisors is usually free and there is often no obligation to purchase any of the insurance policies those advisors find for you.