Insurance Info

For working people, situation may be there in life when they get sick and have to stay back at home, and getting their disease treated. Most of the people absent from their work suffer from lacking finance. It doesn’t only cause the entire dependant family to suffer, but also they lack money to get their ill health treated. In this way, availing an income protection insurance helps very positively to get all the financial stress over. This insurance lets them enjoy a reliable method of financial protection. Also known as PHI or Permanent Health Insurance, this insurance pays a compensation to the insurer unable to work and go to his/her office.

For people who are unable to go to their office due to some sort of sickness, accident or any other inability, income protection appears to be a boon. Under this insurance policy, the provision is to pay you at least 60% of the salary you are drawing currently. Though in some cases, the amount may escalate up to 75% of your salary. The waiting period for which you will have to wait range between 7 days and 12 months. Usually, the minimum period of getting the benefits paid goes up to 4 weeks. Longer waiting period is useful for those who are able to go to office. But too much waiting period can be of huge disadvantage for those in need of urgent medical as well as financial assistance. Continue reading ‘Income Protection – A Reliable Way To Protect Your Finance’ »

Why are doctors and dentists classified differently?

Doctors and dentists often have their own separate occupation code for the purposes of income protection underwriting. This is because of the constant exposure to ill people, and the slightly increased threat of violence through dealing with people in stressful situations.

Do I need a doctor/dentist-specific policy?

Start researching income protection and you’ll quickly find that there are companies that provide policies labeled specifically as being for doctors and dentists.

However, this doesn’t mean that all other policies are unsuitable – if you choose the right options, you’re free to go with any income protection insurance policy with peace of mind. Continue reading ‘Healing the Healers: Income Protection Insurance Considerations for Doctors and Dentists’ »

Since the impact of borrowers failing to meet their mortgage payments in the USA and the failure of banks in the UK and Iceland it has become increasingly more difficult to borrow money. Unfortunately all the best financial brains failed to come up with solutions to the problem. This resulted in thousands of homes on both sides of the Atlantic being re-possessed, although this figure would have been greatly reduced if those people had taken out som form of income protection insurance.

Statistics reveal that mortgage approvals at the end of February 2010 fell by more than 1000 for the third month in a row despite house prices dropping by 1.5%. What is surprising is the fact that the number of mortgages available in February actually increased by over 1100 which in a way does not make sense, availability has increased but the take up of mortgages is down. Continue reading ‘Mortgage Protection Insurance Could Help You Out In the Credit Crunch’ »