Best Insurance Explains Income Protection Products and the Need to Have an Income Protection

Hove, United Kingdom, July 13, 2013 --(PR.com)-- The slow-down in the economic growth for the past few years has shown yet again that there is no such thing such as a “Job for life.” There are several examples of big companies such as Corus known as Tata Steel, major retail chains such as Jessops, Woolworths, Big buy which exit the market leaving several thousands of employees without any job. There was also an expectation that large companies would look after their employees if they are unable to work due to an illness or any unexpected accident. However this is not the case anymore as most employers have either fully removed sick pay benefits or have drastically reduced it to a few weeks.

It is not unusual to have friends or members of family who have lost their income and struggling to pay their bills.

The question is what can be done to protect against loss of income. This is exactly what income protection insurance is all about. Income Protection Insurance protects you against loss of income due to an accident, sickness or unemployment. A small premium which can be as low as £1 a day can cover you against loss of income up to about £1000 a month. Kesh Thukaram, Director of Best Insurance says that they have seen a rapid increase in numbers of people buying income protection insurance. He adds that Income Protection Insurance is a simple personal income risk management tool that allows people to manage their bills and main their lifestyle if they are unable to work due to redundancy or if they are unable to work due to accident or sickness.

In the UK there are several specialist insurers who offer various types of income protection. Some insurers also allow the flexibility for you to choose just unemployment or just accident and sickness. They also allow you to choose how long you want the benefit amount to be paid. With most insurers, your current gross income is a qualifying criterion and you can cover up to 65% of your gross income. When a claim is made, there are no taxes deducted and hence allows you to cover nearly your entire salary.

Income Protection Insurance not only gives you peace of mind but also gives the much required quality time that one has to set aside to look for new jobs. Currently over 10,000 new policies are incepted every month and is increasing every month.

As the old saying goes “Better safe than being sorry.” Cover your income today and don’t leave it too late. Remember, when things go wrong and you lose your income, it is only Income Protection Insurance that will come to your rescue.

Best Insurance
PO Box BN3 2BD
51-53 Church Road
Hove, East Sussex
United Kingdom
0330 330 9465
http://www.bestinsurance.co.uk