incapacity benefit?
Discussion
I'm looking into incapacity benefit, figures are around £30 PCM to give me £2000 a month starting after 6-months. Seems fair, however I would be keen to hear any advice or opinions on this insurance.
Effectivly, I'm looking for cover should anything ever happen that meant I couldn't work.
Effectivly, I'm looking for cover should anything ever happen that meant I couldn't work.
AudiSport said:
I'm looking into incapacity benefit, figures are around £30 PCM to give me £2000 a month starting after 6-months. Seems fair, however I would be keen to hear any advice or opinions on this insurance.
Effectivly, I'm looking for cover should anything ever happen that meant I couldn't work.
That's not Incapacity Benefit. IB is a specific welfare handout.Effectivly, I'm looking for cover should anything ever happen that meant I couldn't work.
AudiSport said:
I'm looking into incapacity benefit, figures are around £30 PCM to give me £2000 a month starting after 6-months. Seems fair, however I would be keen to hear any advice or opinions on this insurance.
Effectivly, I'm looking for cover should anything ever happen that meant I couldn't work.
I assume that you actually mean an Income Protection policy as opposed to Incapacity Benefit?Effectivly, I'm looking for cover should anything ever happen that meant I couldn't work.
Premiums and quality of coved can and will vary wildly depending on your circumstances and requirements. We write a few of these per week, drop me a message if you need any help or specific advice.
be careful over the small print.
I own a ltd company which has a decent enough turnover, and I wanted to protect half that.
Only I don't pay myself that much, and they'd only payout a proportion of what I draw, and that was lower than the minimum figure.
Also they wanted an extra 40% because they said I was Obese, which at 6 foot and 15.5 stone was borderline, except it turned out I was 5' 10" and 16 stone apparently. The so called Nurse was a feckwhit.
Anyhow, once I'd read the small print I decided I'd be better off saving the premium.
I own a ltd company which has a decent enough turnover, and I wanted to protect half that.
Only I don't pay myself that much, and they'd only payout a proportion of what I draw, and that was lower than the minimum figure.
Also they wanted an extra 40% because they said I was Obese, which at 6 foot and 15.5 stone was borderline, except it turned out I was 5' 10" and 16 stone apparently. The so called Nurse was a feckwhit.
Anyhow, once I'd read the small print I decided I'd be better off saving the premium.
New POD said:
be careful over the small print.
I own a ltd company which has a decent enough turnover, and I wanted to protect half that.
Only I don't pay myself that much, and they'd only payout a proportion of what I draw, and that was lower than the minimum figure.
Also they wanted an extra 40% because they said I was Obese, which at 6 foot and 15.5 stone was borderline, except it turned out I was 5' 10" and 16 stone apparently. The so called Nurse was a feckwhit.
Anyhow, once I'd read the small print I decided I'd be better off saving the premium.
Did you source this policy yourself or did you see a Financial Advisor type, as it seems that either you recieved dire advice or did not read the T&C's yourself?I own a ltd company which has a decent enough turnover, and I wanted to protect half that.
Only I don't pay myself that much, and they'd only payout a proportion of what I draw, and that was lower than the minimum figure.
Also they wanted an extra 40% because they said I was Obese, which at 6 foot and 15.5 stone was borderline, except it turned out I was 5' 10" and 16 stone apparently. The so called Nurse was a feckwhit.
Anyhow, once I'd read the small print I decided I'd be better off saving the premium.
No company would pay you a % of your Ltd companies turnover. Your advisor should have told you this.
I agree that the BMI calculations are sometimes bizarre.
Gassing Station | Finance | Top of Page | What's New | My Stuff