What different types of income protection are available?

1 min Read Published: 24 Sep 2014

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