HI there, im just wondering what is the best company to provide income protection, im self employed in a Ltd company, looking to protect pension contributions also
I doubt that there's any "best" provider for all situations and, like any insurance cover, you need to understand clearly what your needs are based on your specific overall financial/personal circumstances and then shop around for the best deal that meets those needs.
Some previous threads that might be worth reviewing...
A relative has been advised to increase their income protection policy following a review. They currently have cover for around 30 k pa after 6 months off sick. An advisor has advised them to go for a 100k policy. It will cost just over 200€ per month. Policy owner is 52 years old. Health is ok...
Hello, Im looking for advise on the above. I am recently Separated and taking out a new morgage of 220000, my daughters are adults 2 in University. I am currently paying income protection of approx 135 a month, in case anything happens to me and i cant cover the mortgage. I work for the Public...
Hey all, Looking for some feedback on income protection. Here's some background... I'm changing from a full time job to a contractor role shortly. I've had a financial review and been advised to sign up to income protection at €159 per month! 44 years old, no kids. I've never had income...
Hi everyone, Just dropped out of my employer-facilitated group income protection scheme because they raised the ordinary premiums to 2% of gross pay which is twice as much as I’m being quoted using online comparison tools. For context it’s a public sector group scheme. When contacted for...
Contact a financial broker and ask them to compare quotes from all the providers, i.e. Aviva, Irish Life, New Ireland, Royal London and Zurich Life.
I've been a broker for decades and in that time, have dealt with Income Protection claims with Aviva and Irish Life. I found Aviva to be very efficient and reasonable about paying claims. They have the longest experience of issuing Income Protection policies in the country, which helps. I also found Irish Life to be poor about paying claims, throwing up plenty of roadblocks in the path before eventually agreeing to pay the claims following complaints. But that's just my personal experience. The circumstances of the individual claims I've dealt with were a factor in the different experiences. My handful of claims isn't exactly a scientific sample.
Do Aviva provide for a standard anual increase in the 75% salary replacement under their income protection.
I am unable to work since September, and have had to wait 6 months for cover to be processed, their parameters are 75% less DSW and they use the base salnary as the 3 month period prior to absence July August September wheras my anual increase applied in January 3 months into the waiting period.
Can I make a case for the salary inclusive of the anual increase, it is worth 4% and there is a history of it being paid in January anually for 5 years which my employers could confirm the facts of to Aviva also.
I would do all income protection plans for my clients with Aviva best in class as they inherited the Friends First model who were THE company for the plan just my view
Our experience with Aviva has been excellent especially when it comes to the claim part of the process Padraic