When looking for a policy that covers accident, sickness and unemployment it is important to be careful as most of these plans will be Payment Protection Insurance (PPI).

Avoiding Payment Protection

Income Protection (formerly Permanent Health Insurance) is a very traditional policy that typically only covers the risk of illness or injury.

It is a very solid policy where it is possible to gain ‘own occupation’ protection (where you are actually covered in your current job), which is often not the case with Payment Protection Insurance (many plans use a ‘suited occupation’ incapacity definition).

For more information please navigate to: Income Protection vs PPI

Adding Unemployment Insurance

If you would also like protection against the risk of redundancy you have two main options:

• Option 1
  You could take out traditional Income Protection and then a separate Payment Protection plan just covering unemployment. Although you would have two plans it would allow you to get the best Income Protection whilst still obtaining Redundancy Insurance.
• Option 2
  There are a very limited number of Income Protection policies that combine illness and injury cover with unemployment protection – call us to get a quote for these.