This is the maximum number of months we can consecutively pay you per claim i.e. any one period of accident, sickness or unemployment. You may make multiple subsequent claims throughout the life of the policy.
Choose between Accident and sickness only (AS) or Accident, Sickness and Unemployment combined (ASU)
This is the monthly gross amount (or annual gross monthly average) shown on your payslip. If self employed use the monthly average gross income you declared for the previous tax year.
You can choose to individually defer your Accident & Sickness or Unemployment claim with ‘waiting/excess periods’ of 0 (Back to Day 1) 1, 2, 3, 6 or 12 months producing cheaper premiums the longer you wait.
Co-branded as Lifestyle Protection or Loan Protection
This Income Protection insurance can protect home rental payments, personal or secured loans, mortgage, motor finance and utility bills, council tax and other regular commitments.
Cover up to 65% of your gross monthly income to a maximum of £1500 per month
Accident, Sickness and Unemployment or Accident and Sickness only
Cover for Employees,Self-employed, Contract workers, Sub-Contract workers and those with more than one job
Back to Day 1 or variable excess periods of 30, 60, 90 or 180 days to reduce your premium
Benefit period of 12 months
Carer coverincluded unless you have selected Accident and Sickness cover only
Legal Helpline to help with unemployment as well as tax issues
Back to work service is included with your cover
TYPICAL PREMIUM Person: Aged 30 Amount: £1000 per month cover Benefit period: 12 months Cover: Accident, Sickness & Unemployment Excess period: 30 days for Unemployment and 90 days for Accident & Sickness Premium: £31.23 per month See how to reduce your premium and beat Comparison site quotesclick here. For an Income Protection Quick Quoteclick here.
What is the difference between Income Protection Insurance, Mortgage protection and Lifestyle Protection?
Income Payment Protection (co-branded by us as Lifestyle Protection) is widely sold on the internet and elsewhere is not specifically linked to any mortgage or loan, it covers a percentage of monthly income that can be used to pay those regular outgoings. Most income protection policies do not specify the actual expenses the benefit should be used for and can be considered as income replacement, replacing the salary that is lost through the inability to work. Income protection insurance policies are traditionally slightly more expensive than mortgage protection. Hybrid mortgage protection insurance polices are a fairly recent addition to the range of options where the mortgage can be covered with an addition percentage of the cover added to help towards other bills.
Income Protection Insurance policies allow you to protect your salary if you were to lose it through accident, sickness or unemployment. Income protection as offered by Monster Insurance as lifestyle protection is designed with the intention that you can keep the same policy for many years, altering the different commitments that you cover and also the level of cover that applies.
Income Payment Protection can be as important as Buildings Insurance. What would you do if you lost your income? Who would pay your monthly commitments if you were unable to? The premiums for this cover can be tailored to fit your needs or your pocket, with varying excess periods and the choice between Accident, Sickness & Unemployment or Accident & Sickness only. If you are serious about protecting your finances you should examine the benefits of income payment protection.
The recent upheaval in the financial sector and the ever increasing unemployment figures has pushed payment protection insurance to the forefront. People are now more concerned than ever about protecting their home and their lifestyle if they become one of the unemployment statistics. Monster Insurance recognise this and have produced an Insurance Payment Protection with variable excess periods so you can reduce the premiums to a level that suits your pocket whilst knowing that you have protected your income against the worst happening.
