Income Protection

[Micilin]

I have been off work since September, due to a minor accident and have just had a small operation which will mean back to work about April ish ,all going well.

I was lucky enough to have some decent Income Protection in place to make life a bit easier.

I don't want this to be an advert for any company, but would urge all of you to have a look at some form of this cover if you would struggle after four or five weeks out of work due to illness or accident etc.

The general comparison websites will help you get started, and of course if anyone wants the details of mine they can PM me, if that is not breaking forum rules. PLease do think about it, especially if you have dependents, mortgage etc. the state won't give you a lot especialy if self emloyed.

 

[Seasider53]

Couldn't agree more - I've only just started "having a go" at plastering as my full time job is working for a Life Insurance company - and you thought plastering was dull

It can on the surface seem quite an expensive bit of cover but as you can see it is very much well worth it! I'd always consider it of I were self employed.

Well done Micilin for your foresight...!

 

[Micilin]

Couldn't agree more - I've only just started "having a go" at plastering as my full time job is working for a Life Insurance company - and you thought plastering was dull

It can on the surface seem quite an expensive bit of cover but as you can see it is very much well worth it! I'd always consider it of I were self employed.

Well done Micilin for your foresight...!

Cheers. When I was injured, I had a look to see what I could cut down on, and all of my Direct Debits (apart from mortgage)are insurances of one kind or another. Going through the list sayiing, I could cut this one or that out . . . .but what if? So kept them going.

I have had £750 a week while off (after a four week period) so I don't need to throw one of the kids to the wolf when he comes to the
door.

 

[JohnD]

Agreed

I had PHI when I was badly injured and off work for the best part of a year. came in very handy. I had two policies, one with a 3-month wait period and one with 6-months (the longer the wait period, the cheaper the premiums)

You need to have enough savings to tide you through the wait period.

 

[Micilin]

Agreed

I had PHI when I was badly injured and off work for the best part of a year. came in very handy. I had two policies, one with a 3-month wait period and one with 6-months (the longer the wait period, the cheaper the premiums)

You need to have enough savings to tide you through the wait period.

That is a very good strategy, and ecellent to get cheap long term cover.