Sickness payment insurance

[Martin@AS Financial]

Hi guys just wondered who you guys use for the sickness payment insurance and ever had any experience of it paying out ? I'm always dubious about these insurances not to pay out.

I posted this last year and it should help answer your question:

Mine is with Scot Prov.

Income Protection taken through the right insurer is invaluable for the self employed as they do not have access to PAYE benefits such as sick pay. Essentially, a business could fold very quickly in the event of long term sickness.

I completely agree, that there are some unbelievably bad policies out there though. As always the fine print needs to be examined. Any policy that is not own an "Own Occupation" basis should not be taken up. "Worker tasks" policies will very rarely pay out on the basis that you can still work albeit in another job when sick - exclusions include not being able to wash and bathe yourself. Realistically, you are going to need to be in a very bad way to win your claim.

If you take up a policy, ask for guaranteed rates - you don't want your premium increasing because of the insurers claims that they have had throughout the year.

Finally, to ensure that your benefit is not eroded by inflation, make sure that your policiy is linked to the retail price index.

[SueEllen]

Another thing those living off the state don't have to worry about.

Family claims £147,000 a year in housing benefit for seven bedroom home - Telegraph

Landlord of the house in question is probably an MP......

[DimPrawn]

Another thing those living off the state don't have to worry about.

Family claims £147,000 a year in housing benefit for seven bedroom home - Telegraph

[GlenW]

IPSE+

That was a party political broadcast by the IPSE party.

[TheFaQQer]

IPSE+

[eddie1507]

Thanks boys

[northernladuk]

Have a dig through all these threads.

https://www.google.co.uk/search?q=si...spv=1&ie=UTF-8

[northernladuk]

General isn't the best place to post serious questions....

[TheCoconutDog]

Sickness payment insurance

Combination of plans. One to cover short term illness from day one another that kicks in after a year and index linked in case the wheels really come off the wagon. Talk to an IFA.

[eddie1507]

Hi guys just wondered who you guys use for the sickness payment insurance and ever had any experience of it paying out ? I'm always dubious about these insurances not to pay out.