[from edge2edge]

Evening guys/gals I am looking at getting some cover and wondered if any of you could recommend a company to me.Basically i want about a grand a month if off work and can wait say 2 months before it would need to kick in.All help always appreciated...............Alan

[Bob Allen]

From what ive heard to be getting about a grand a month cover you will be paying a very high premium!!

[The Great One]

Hi

It's ok having the cover but you have to make sure that they will pay out, how long you have to be off work to pay out and what illnesses are not covered, like Cancer and the like.

Martin

[Doctor Carpet (Ret'd)]

Just been looking at this for myself.....

For £2000 per month benefit from day 1 premiums will be £138.36

For £2000 per month benefit 3 months deferred premiums will be £102.48

Based on male aged 48 planning to retire no later than age 55.

Terms and conditions apply.

Based on quotes from Exeter Family Friendly.

Rog

[from edge2edge]

Rog thats about what i have been quoted at the moment with a 2 month wait for£1000 i would pay £46.51 per month     I was wondering if anyone had found a policy that gave a wide range of cover as reading small print is a pain for us all ....................Alan

[Mark Farrimond]

We have a personal accident scheme (that can include sickness too).

Premiums start at £95.00 for accident only and £175 for Accident & Sickness.  The benefit is £250 pw and the deferred period is 14 days.

For more information please visit http://www.gleaminginsurance.co.uk/personal-accident-insurance.html or email me - mark@gleaminginsurance.co.uk

This isn't an income protection type policy though,  I must make that point.  This insurance only pays out for 2 years.

[Dave_Lee]

Most income protection policies only pay out for 12 months, and cover ceases at the age of 65 years.
I had a policy with American Life, and when it ceased on my 65th, I had all my premiums returned.
They still offer the insurance cover but not the return of premiums.
Dave.

[Shaun_Ashmore]

At your age Dave I'd take out as much as you can

Shaun

[creighton foyle]

are'nt self employed people usually excluded in the policy small print ?.

[AshWhite]

Creighton, iirc that's one of the differences between an accident and sickness plan and income protection. These plans don't pay your wage, they pay a set amount and your premiums are set accordingly.

Also, if you have proof of income over a few years you can normally qualify for the same as employed people anyway I think.

[Mark Farrimond]

Creighton,

This type of insurance is available to self employed people, both Accident/Sickness cover and Income Protection Insurance.  On the accident insurance policy (we can arrange),   the Average Weekly Wage is calculated as follows;

Average weekly wage
An insured person’s average weekly wage (not including payments for overtime, commission or bonuses) before tax and National Insurance for the 13 weeks immediately before the first date they are off work due to accident or illness. If the insured person is self-employed or a director orshareholder of a small private company, this will be 1/52 of the total of:

the insured person’s net profit as declared to HM Revenue & Customs or the Irish Revenue;

plus

the insured person’s regular dividend payment for the 13 weeks before the first day they are off work due to the accident or illness;

plus

any items which we consider to be non-refundable overheads in the insured person’s trading accounts. In this calculation, we will not include any items we consider to be variable costs.

Accident/Sickness cover only pays out for a maximum of 2 years, Income Protection Insurance usually pays out for a set term, eg to 65 or for 25 years if you are wanting cover for the length of time you have a mortgage.  

Premiums for IPI are based on your age, benefit amount and length of term.  You can read more at www.gleaminginsurance.co.uk/income-protection-insurance.html