Most Competitive Income Protection Insurance Provider?

A

apple1

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Folks,
As the thread title suggests, I'd appreciate any feedback on who other posters think provides the most competitive income protection insurance? Currently have no sick pay scheme at work & beginning to get more conscious of these things as the years roll by!!Thanks in advance, apple1
 
Does it not depend on the individual's specific circumstances as to who offers best value?
 
That's just my experience from running up the odd quote, the rates are cheaper with CL

If you have income over 1k a week you'll have to go to FF as Cl only quote up to 900 or thereabouts

FF is popular with doctors and the 'professions', Cl with other occupations.
 
Hi apple1,

If it was my decision, I would only look at the FF product. The CL product is cheaper for a reason, it's inferior.
 
No particular loyalty to either company here. Would be interested to hear what the main differences are if you have the time F. Kruger.
FWIW apple1 the FF rep claims they have strict medical underwriting acceptance criteria but a payout rate in the region of 90% i.e. most claims are paid.
 
I got a fairly cheap quote for income protection through FF when I told a tied broker that I was interested at the same time as I was looking for a quote on life insurance for a mortgage. When the quotes came through I decided to go with the life insurance (which had been price matched with an on-line company) but not with the income protection. I was surprised when the broker asked me several times if "I was sure".

I then found I had been signed up for IP anyway! I cancelled it immediately, mentioning in my letter that I had told the broker 2 months previously that I was no longer interested. I don't know if this is a sign that they are a bit underhanded - trying to get me to take their product through an assumption on my part that I wouldn't bother to cancel it, or if it was just an overzealous broker chasing his commission, but I would steer clear of it myself.
 
ClubMan said:
Does it not depend on the individual's specific circumstances as to who offers best value?
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F. Kruger said:
Hi apple1,

If it was my decision, I would only look at the FF product. The CL product is cheaper for a reason, it's inferior.
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Ah - I should have also said that in my post above - don't shop around for insurance products on price alone but also check the terms & conditions as different policies offer different levels of cover etc.
 
well I'll certainly read them but if you are claiming a product to be inferior to another I'd have thought you'd know why off the top of your head

Thanks
 
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combined insurance co. of europe specialize in income protection.. many of their products have little restrictions and costring is very competitive .. all sports are covered and even jockeys can get ...
 
MONTANA said:
combined insurance co. of europe specialize in income protection.. many of their products have little restrictions and costring is very competitive .. all sports are covered and even jockeys can get ...
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Do you have any interest to declare?
 
I would recommend that you steer clear of FF - I had a PHI policy with them & they wouldnt pay up despite numerous tests/ doctors' reports. They will whatever they can not to pay you.
 
Folks this thread is terrible. A lot of well intentioned stuff, but most of it based on incomplete knowledge.

The market for I.P. or P.H.I. is limited. Policies vary.

The only way to get the best quote, together with appropriate advice, is to consult a professional.

Business & claims wise F.F. are pretty dominant. I've found them totally fair too. I have 2 customers that would be in severe financial trouble, but for this cover.

p.s. Combined Ins. Co? - I doubt anyone would be silly enough to believe that.
 
RS2K said:
Folks this thread is terrible. A lot of well intentioned stuff, but most of it based on incomplete knowledge.
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Perhaps if you pointed out the specific posts/points which you disagree with and rebutted them it would help? Instead of just dismissing the whole thread to date lock, stock and barrel? :rolleyes:
 
To try and get back to the original question, as far as I know, FF are the dominant provider for PHI cover because they are the only ones to provide an option of a guaranteed premium level, ie, unless indexation is chosen, the premiums WILL NOT increase for the duration of the policy. This is a very popular option with many customers looking for certainty of cost. FF also offer a 'reviewable' premium option whereby FF will review it every 5 years, and if they deem it necessary (depending on their claims experience etc) MAY increase the premium rates. This option therefore starts out at a lower premium than the guaranteed option, because there is an option to increase it over time.

Irish Life will only offer a 5 year or 10 year reviewable option, ie, no guaranteed option.

Horses for courses....don't just decide on price, etc!
 
ClubMan said:
Perhaps if you pointed out the specific posts/points which you disagree with and rebutted them it would help? Instead of just dismissing the whole thread to date lock, stock and barrel? :rolleyes:
Click to expand...

I did mention the area was not straightforward and suggested to get proper advice.

The competing policies should not for example be compared purely on a cost basis.
 
I still think it is terribly misleading. What would someone reading this site think based on the replies?
 
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