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How Much Will Income Protection Cost?
You can have Short Term Income Protection Insurance for either unemployment alone, or sickness and accident alone, or all three. The costs of the policies is much lower than you'd expect.
Hot Topics
- Will Short Term Income Protection Insurance pay out immediately you make a claim?
- You have to be off work for 30 days before you can make a claim but the income is then backdated to the very first day you were off work.
- You want to ensure that you receive a monthly income if you became sick, unemployed or had an accident for as long as you were off work (i.e. no limit of 12 months) or until the insurance policy finished whichever came sooner.
- You need Permanent Health Insurance.
- How long should you insure for?
- Short Term Income Protection Policies are renewed annually. So you really only need to plan one year ahead.
- Should you insure for accident and sickness or accident, sickness and unemployment?
- The Short Term Income Protection Insurance Burgesses offer gives you the option of insuring yourself for:
- Will a claim under a Short Term Income Protection policy affect any State benefits to which you may be entitled?
- No. Whilst your Short Term Income Protection policy replaces part of your income, the insurance payouts you receive do not qualify as income in the eyes of the Benefits Agency or the Inland Revenue.
Assuming you can afford it, we believe that it makes great sense to insure for disability and unemployment because: -
- Over the last five years 28 % of people have been off work for more than a month due to illness or accident.
- 1 in 3 people aged between 25 and 34 have been unemployed for more than a month.
Frequently Asked Questions related to the above topic.
Click below if you wish to read them: -
- What is Short Term Income Protection Insurance? (Also known as Accident Sickness and Unemployment Insurance)
- Why should you have Short Term Income Protection Insurance?
- Are there any situations that would result in your claim being refused?
- You want a lump sum if you were to die or become very seriously ill and could not work again. What sort of insurance do you need?
- You want to ensure that your monthly mortgage repayment is paid, if you became sick, unemployed or had an accident. What sort of insurance do you need?
- You want to ensure that you receive a monthly income if you became sick, unemployed or had an accident for as long as you were off work (i.e. no limit of 12 months) or until the insurance policy finished whichever came sooner.
- How much should you insure for?
- How long should you insure for?
- Will a claim under a Short Term Income Protection policy affect any State benefits to which you may be entitled?
- What happens if I am made redundant?
- Go to menu of Frequently asked Questions about Short Term Income Protection Insurance asked Questions about Short Term Income Protection Insurance