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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.
Hot Topics
- How Much Will It 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.
- 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 much should you insure for?
- Most people get enough income protection insurance to cover their fixed monthly bills plus sufficient for day to day living expenses.
- 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.
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?
- How much will it cost?
- 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?
- What happens if I am made redundant?
- Will a claim under a Short Term Income Protection policy affect any State benefits to which you may be entitled?
- Go to menu of Frequently asked Questions about Short Term Income Protection Insurance