Unbeatable quote UK

EXAMPLE

Mr Dovey is employed as a Accounts Clerk with ABC Ltd and is paid full pay in the event of accident or sickness for 3 months. After the 3rd month he is then paid half pay for another 3 months at which point he ceases to receive any pay from his employer.

What Mr Dovey requires is a policy to commence once his pay is reduced to below 50%. Insurers will pay, subject to satisfying the conditions, normally approx 50% of his gross pay (this varies dependant on insurer and can be up to 65%). Therefore in this example, an insurance policy claim will commence after the 6th month as the first 6 months he is covered by his employer. Once the policy claim commences it will continue to be paid until he returns to work or till the "age" the policy is written to (can be to retirement).

Mistake - many people have been misled into believing that the policy claim should commence after 3 months, but all this serves to do is increase the cost of your policy for a claim that can never be made at that point as Mr Dovey is still receiving upto 50% of his gross earnings.

Once Mr Dovey is in receipt of his claim he is still able to claim any state benefits and the income received from his policy is not taxable.