If you are like most people in the UK, your income if absolutely essential to your quality of living. There is a good chance you have a mortgage or rent payment to make each month, not to mention putting food on the table, paying the gas and electric bills and having some money in your pocket for life luxuries.
Everything may seem bright and breezy now, but what would happen and how would you cope if you were to be infected with an illness or suffer an injury tomorrow which meant you unable to work?
Most people believe that if something like this happened to them, the government would help them. However with incapacity benefit standing at approximately £73 per week and plans coming in to force to make it harder to claim, many people are in for a bad shock. Even if you are eligible to claim, could you really live on £73 a week without a vast declination in your quality of living?
So what can be done to protect yourself against this problem? Well the solution lies in an insurance policy called Income Protection. This type of cover allows you to receive a monthly income from the insurance company if you are injured or ill and unable to work. It will keep paying the monthly amount until you are able to return to work or until your retirement age if you cannot return to work because of the illness or injury.
Income Protection quotes from a broker like Top Quote Online allow you to compare the whole of market to ensure you are getting the most competitive quotation from companies like AXA, Bupa, Friends Provident and Pioneer Friendly.
Tuesday, February 24, 2009
Income Protection
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