If you are unable to work because of accident, sickness or unemployment, then accident, sickness and unemployment cover will pay out a tax free monthly income until you return to work or for up to a maximum of 12 months. Generally speaking, in most cases the payout cover under this policy will allow you to cover yourself up to 50-60% of your regular monthly income.
This monthly pay out will start after the deferment period specified on your insurance policy. The deferment period is decided by the policy holders and more the deferment period the cheaper are the premiums.
This type of cover is often used as protection against monthly mortgage repayments and other financial commitments.
An Independent Financial Adviser can research the policies on offer in the market for you, explain the differences and advise you on which policy to take.
Getting Insurance advice from an Independent Financial Adviser can prevent you from making mistakes, which could lead to your policy being invalid.
And remember, because an Independent Financial Adviser can search the entire Insurance market, you can be certain you are getting the most suitable deal available as per your situation.