1 min Read
24 Sep 2014

Written by Damien

Damien is one of the most widely quoted money and investment experts in the national press and has made numerous radio & TV appearances. He created MoneytotheMasses.com while working in the City when he became disillusioned with the way the public were left to fend for themselves because they could not afford financial advice.

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What different types of income protection are available?

What types of income protection are available?

What types of income protection insurance are available?There are several types of income protection policies available:

  • Accident cover only - this policy will only provide an income to the insured in the case of an accident
  • Accident and Sickness - this policy will provide an income to the insured in the case of an accident or sickness
  • Accident, sickness and unemployment -  this policy will provide an income to the insured in the case of accident, illness or unemployment
  • Short term - this policy will pay out an income to the insured for a short period, typically six to twelve months
  • Long term - this policy will pay out an income to the insured until they can return to work or retire
  • Guaranteed - the premium paid will remain the same throughout the term of the policy unless the policyholder increases the cover
  • Reviewable - the premiums paid can increase due to age or changes to the policyholders health
  • Age-related - premiums increase every year in line with the policyholders age

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