What types of income protection 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
