Protection money
Article Abstract:
Most people with families have life insurance for long-term security but guarding against ill health is equally important. Some 2 million people are off work for more than six months each year in the UK and protecting against this eventuality is important, especially for the self employed or for those with poor work sickness schemes. Income protection, also called permanent health insurance, replaces earned income if the insured is injured or sick and cannot work. An overview of income protection policies is presented in further detail.
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Subject: Consumer news and advice
ISSN: 0043-4841
Year: 1999
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Critical illness cover
Article Abstract:
Critical illness cover (CIC) is available from a wide range of insurers and pays a lump sum to meet the costs of unexpected serious medical conditions. The core conditions common to all policies include heart attack, multiple sclerosis and cancer. CIC can be taken out to protect individuals and their partners. Typical monthly cost for cover for a healthy 45-year-old man in a low-risk occupation is between 40-65 pounds sterling.
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Subject: Consumer news and advice
ISSN: 0043-4841
Year: 1999
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Choosing an IP policy
Article Abstract:
The first decision to make when choosing income protection (IP) insurance is how much cover is required, based on current expenditure and other income. It is essential not to pay for more cover than can be claimed and a deferred period should be chosen, based on existing savings. Features of importance in an IP policy include index-linking and premium waiver.
Publication Name: Which?
Subject: Consumer news and advice
ISSN: 0043-4841
Year: 1999
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Comment about this article or add new information about this topic: