Beginners' Guides

Beginners' guide to Protection

How much Income protection insurance cover do I need?

Use our Budget Planner to work out your outgoings to give you a guide of how much income you’ll need. Remember you won’t have work travel costs or other work related expenses. Consider taking financial advice to make sure you’re buying the right level of cover and the policy is suitable for your needs. These are some questions you should ask:

What will your employer pay and for how long? This will help indicate how long you can defer payment for.
Will the policy run until retirement or an earlier date?
Do you want a reviewable or guaranteed policy?

How much can you afford to pay? Again you or your financial adviser may consider buying as much as you can afford is better than buying nothing.
Payments from the policy can be kept at the same level, or you can choose for them to increase at a fixed amount.

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