Income Protection Insurance Basics

Did you know...
You don’t need a credit agreement or loan in order to qualify for payprotect– rather it can simply be bought to provide peace of mind in an uncertain economic climate
payprotect is administered by MMS and is underwritten by Lloyds of London, one of the most financially stable and established insurance markets in the world-giving you complete peace of mind.
With all insurance policies some limits and exclusions may apply. For more information please review our Summary of Cover.
In the current climate, it’s more important than ever to ensure that you and your family have financial protection.
Did you know that the Confederation of British Industry (CBI) has forecast unemployment to break the 3,000,000 mark in 2009? That equates to one in every ten workers in the UK – a terrifying number. The chances are more than one of your friends will be made redundant in the next year. Could you be another one of these poor unfortunates? If so, how would you pay for your monthly outgoings such as your rent or groceries?
If you’d rather be safe than sorry then take a look at our payprotect policy.
The advantage with payprotect is that it works independently of any loan or other type of lending, and can be used to cover almost all your monthly commitments – gas, electricity and water bills, rent, monthly insurance premiums – virtually anything that you have to pay on a regular monthly basis.
With payprotect you'll benefit from:
- Peace of mind for less – payprotect starts from £4.00 per £100 of full cover* and pays you a fixed monthly income for up to 12 months or until you find another job or recuperate.
- A fixed monthly, tax-free payment – for up to 12 months while you find another job or recuperate
- A return to work benefit – if you receive less than your usual basic salary from your employer
- Money back – if you change your mind within 30 days, don’t worry, we’ll give you a refund providing you haven't made a claim.
Here's to providing you with a great deal on your income protection insurance!
*Per £100 of full accident, sickness and unemployment insurance cover. This rate can be achieved by customers aged 18-30 (our research indicates that 22% of people who typically buy income protection fall within the 25-29 year old age band), 30-day excess, with an initial exclusion on unemployment cover of 180 days. Other conditions may apply.
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The Basics
What's Covered