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Since 1995 if you became ill or redundant the social security
does not offer any help to you for the first 39 weeks.
This plan (MPPI) provides sufficient income on a monthly
basis to cover your mortgage payments.
In many cases a claim cannot be made on redundancy cover
until the policy has been in force for at least 90 days, likewise
30 days for sickness.
For the self-employed there are policies around where you
can’t make a claim for illness until you’ve been
ill for 30 or 60 days (depending on the policy that you have),
but if you are ill for longer than the deferral period, then
benefits are back dated to day one.
As with all other types of insurance there is the (it won’t
happen to me) chance, however, it will happen to someone probably
right now, the old saying of “prevention is better than
having to cure” is of paramount importance as we are
all wiser in retrospect.
To obtain an income protection quote from us, either contact
us direct or complete and submit the form below.
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