Hi,
I've done my best to look up related threads, but many are a few years old now, so I wanted to make another post to see if opinions have changed at all.
I'm quite a cautious person and like to be prepared, so the above protections sound like good things to have in case something happened to me. I do have some concerns such as will they really pay out when I need it, and the monthly cost for all three would be between £121-£243 which is sizable amount to 'lose' every month. However, I am decades away from retirement, and no amount of savings in to a war chest would see me and my family through to retirement if something happened and I couldn't work.
I've seen plenty of skepticism on here regarding these policies and believe they won't pay out, or that people feel the money is better spent on their war chest.
Providing I check through the T&Cs and that I feel they will pay out if needed, why wouldn't it be worth it? Especially if you're young and you want to prepare in case you couldn't work anymore.
Would you say Executive Income Protection is worth it over regular income protection? My quote is between £79 which would ensure the payouts scale with inflation and also covers pension contributions until the age of 65.
For those that do have cover, do you have all 3 or not?
Appreciate your opinions
Thanks
I've done my best to look up related threads, but many are a few years old now, so I wanted to make another post to see if opinions have changed at all.
I'm quite a cautious person and like to be prepared, so the above protections sound like good things to have in case something happened to me. I do have some concerns such as will they really pay out when I need it, and the monthly cost for all three would be between £121-£243 which is sizable amount to 'lose' every month. However, I am decades away from retirement, and no amount of savings in to a war chest would see me and my family through to retirement if something happened and I couldn't work.
I've seen plenty of skepticism on here regarding these policies and believe they won't pay out, or that people feel the money is better spent on their war chest.
Providing I check through the T&Cs and that I feel they will pay out if needed, why wouldn't it be worth it? Especially if you're young and you want to prepare in case you couldn't work anymore.
Would you say Executive Income Protection is worth it over regular income protection? My quote is between £79 which would ensure the payouts scale with inflation and also covers pension contributions until the age of 65.
For those that do have cover, do you have all 3 or not?
Appreciate your opinions
Thanks
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