Income protection cover is one of the most commonly talked about insurance policies. This specific policy is designed specifically to protect your income for the tough time when you become unable to work due to sickness or age factor etc. Income protection covers people usually for 75% of their salary and an ongoing income is provided to the person until proper recovery of that person when he again becomes able to work. This type of insurance policy only covers the insured person for sickness and accidents but doesn’t cover people for redundancies. These policies are in sense because these policies can cover people thousands of sickness and accidents that keep a person off work for longer period.
Income protection cover is fully tax deductible. All income protection cover policies are certainly not same at all. They differ from company to company in what they offer in benefits and these benefits depend on the price of these policies. Primarily you get for what you pay. If described in simple words income protection cover is a type of insurance that will save your family from running short of money if you suddenly lose your job or you are struck by some accident that make you unable to work. Income protection cover can be long term and short-term as well.
You can gather information about different companies offering income protection cover policies with different options online. You may select an income protection quote that suits your expectations the most. You are advised to make enough searches online and note down income protection quotes offered by different companies making sure that range of accidents and sickness the company promises to cover matches your work environment and your health conditions with general accidents also. Income protection cover is the best option when you are the only person earning for your family and want help in rainy days when your employer fires you from job or some sickness doesn’t allow you to earn etc.