Hi,
Thanks @Jimbobp for the reply. Yep, I have mortgage protection in place, as required by the bank. I do not have payment protection in place, as it is (AFAIK) short term, and I have sick pay for 13 weeks from work. Hence, this is purely for maintaining a percentage of my income to allow me to pay mortgage long term, and to retain my lifestyle.
Does E120 sound expensive? What would be a ballpark monthly premium for this (I know that varies by salary, age etc) but E120 per month sounds rather expensive, when compared with house, car, life insurance etc. I know it pays out up to 65 or so, but still.....
Who would be the main players here? Aviva, Irish Life etc. I guess....
Hi - I too am in the process of looking at Income Protection with a deferral period of 13 weeks up to aged 60. I have reviewed the literature of IL, FF, Aviva and R.L. I was wondering, (a) Cost aside, is there anything in particular I should be looking out for when making a final decision on provider (b) Is there any opinion among those with appropriate knowledge/experience as to who might be a preferred provider between IL & FF should it come to making a claim on the policy? Thanks.
Worked as a broker for the past 22 years and worked for what is now FF for seven years before that. In that time, I've handled Income Protection claims for clients covered by both Irish Life and Friends First. I found that Irish Life made it more difficult to get a claim out of while Friends First were a lot more accommodating. My own Income Protection is with Friends First. I am aware that this is a very unscientific analysis and is entirely based on my own anecdotal experience. Perhaps by pure luck Irish Life got the difficult claims and Friends First got the easier ones. But if there isn't a huge difference in premium, I'd be inclined to go with Friends First on claims-paying experience.
Regards,
Liam
www.ferga.com
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