What is a good income protection insurance plan?

I am currently looking for a good income insurance policy and would like some suggestions for the best income protection cover available.

Question asked by Brendan Small
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Answered by Andrew Jenkinson

With so many plans in the market it is understandable to want to find the best plan available, or at least a plan that is regarded as being good.

The best income protection

Which plan is best for you will depend on your specific situation as some plans are better for different types of people, depending on a number of factors such as your policy requirements and your occupation. If you would like to run through your specific situation and requirements please request a call back.

Drewberry Insurance has a large panel of insurers in order to cater to the needs of a varied client base. Only quality plans from reputable insurers are allowed to enter the panel. For example, the vast majority our long-term income protection policies have successful payout rates of over 90 per cent.

The best type of cover

If you are looking for accident and sickness cover, long-term income protection policies are generally speaking of a far higher quality relative to short-term payment/income protection type plans (with accident and sickness insurance being one such example).

The best type of cover for illness and injury protection comes in the form of long-term income protection. With these plans it is possible to cover earnings all the way up until retirement. When using the own occupation definition of incapacity this type of policy could payout for practically any medical reason that prevents you from working in your own job.

Why are long term plans better than short term cover?

The main advantages of income protection over short-term payment/income protection plans are as follows: long-term payouts; guaranteed monthly premiums; ‘own occupation’ rather than ‘suited occupation’ cover; and greater protection for back, neck, chronic and mental health conditions.

Some long-term plans even allow you to add up to 12 months of redundancy protection. In any case, a separate unemployment only plan could be taken out to provide redundancy protection, if desired.

Given how often this questioned is asked we have created a full length guide with even more information – ‘Guide to taking out the best income protection

Seek advice

It’s always helpful to get some advice from an expert. At Drewberry we offer a fee free service and as we are both independent and have whole of market access we can help find the most suitable options for your circumstances. Our telephone number is 01273 646 484 if you would like to discuss your needs further.

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This information does not constitute financial or other professional advice. You should consult your professional adviser or contact us directly on 02084327333 should you require financial advice. It is important to ensure any insurance policy you take out is suitable for your needs.
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I was having trouble finding a suitable income protection policy online and was unclear about what I should be looking for, so I contacted Drewberry. The process was very quick and straightforward. They called me and explained how this type of insurance works, and then went through series of questions about my circumstances to try and find the right cover for me. They came back to me the next day with several suitable options and emailed all the relevant information clearly laid out. Michael Barrow, the advisor I spoke to, was happy to explain things in detail and answer any questions I had. I would definitely recommend Drewberry as they took all the hassle out of a confusing search.
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