Home > Income Protection Insurance
Income Protection Insurance
income protection insurance
Income protection insurance policies will allow you to continue to meet your monthly financial commitments until you can get back to work. The insurance plans like Mortgage Protection or Income Protection Insurance help you by letting you insure a substantial part of your income. If you were made redundant, you could rely on the extra amount covered by the policy and you could receive monthly payments for the next consecutive 12 months until you start your job again .
After 12 consecutive months, if you have not returned to work, the payments would stop . After joining your job you have to work for 6 months at least before making a new claim. With the help of this safety shield you can bear the expenses for your lifestyle and your family while you are in the process of recovery or searching for a suitable job.
An income protection policy will cover you if your not able to work, where a mortgage Protection Insurance policy is for those who just want to protect their monthly mortgage repayments.