Find the Best Income Protection Insurance

When shopping around for Income Protection, there are a variety of products which maybe suitable, all of which offer a range of cover. Cover varies from providing a benefit for something specific, such as a mortgage (known as MPPI), to protecting a percentage of your monthly earnings.

Below is a table which outlines some of the most suitable products most commonly used.

Product	Purchase	Time until Benefit Commences	Length of benefit
M.P.P.I Mortgage Payment Protection	Accident, sickness and redundancy. Policy commonly used specifically to cover the cost of mortgage and other associated costs.	Typically 1 month after you stop earning.	Typically this product will pay a regular benefit for a 12 month period.
P.H.I Income Protection or Permanent Health Insurance	llness or disability. This policy will cover part of your income. Usually a set percentage.	Varies from 1,3,6 or even 12 months.	Continues to pay out a tax free income until you return to paid employment.
P.P.I Payment Protection Insurance also known as Account Cover or Payment Cover	Accident, sickness, redundancy or death. Used to cover repayments on loans, mortgages, store cards and other debts.	Typically 1-2 months.	Monthly amount paid for a limited time, usually 12 months.
A.S.U Accident Sickness and Unemployment	Provides a set agreed income if policy holder is unable to work for any reason that is out of their control ie; unemployment, sickness or injury.	Decided before policy commences. Typically 1-2 months after policy holder is unable to work.	Pays monthly benefit for an agreed term usually 12-24 months or until you return to work, whichever comes first.

These insurance products work to the same principle, they will provide an income if you are unable to work due to reasons out with your control.

Guide Contents

Income Protection Insurance
Finding the best Income Protection insurance
Compare Income Protection insurance plans
Buy Income Protection insurance
Frequently asked questions about Income Protection insurance
Where to get more help about Income Protection insurance

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