Why choose payprotect income protection?

payprotect, which can be arranged immediately online, gives you the reassurance of knowing that you will be able to pay your regular bills and commitments if you are unable to work because of accident, sickness and/or unemployment. Then, if you need to claim, we will pay you a tax-free income every month until you recover or find another job, for up to a maximum of 12 months.

payprotect is very affordable. From as little as £4 a month* you can get £100 a month of full accident, sickness and unemployment cover in place*. We also include a return to work benefit that will help bridge the gap if you receive less than your usual basic salary from your employer.

All great stuff, but there are more reasons why payprotect is extra special.

• unlike many other income protection or payment protection policies, payprotect doesn’t discriminate when it comes to your occupation
• if you switch to us from another provider, we aim to give you immediate unemployment insurance (see below for details)
• you only need to have been working for the past six months to be able to buy payprotect
• the younger you are the less you pay for your premium, to reflect the fact that we know that younger people make fewer claims.

So why not get an instant income protection quote from webmoney now?

What can you cover?

payprotect can cover virtually all of your regular monthly outgoings. From your gas bills to your rent and loans. It’s not linked to any particular loan, unlike mortgageprotect, which is designed to be linked to your mortgage payments.

Excess periods

payprotect is flexible, so you can choose the length of your so-called “excess “ period – which determines how long you have to wait before you can make a claim. The longer you are willing to wait, the lower your premium will be.

Switching to payprotect

We want to make it as easy as possible for you to switch to payprotect. So if you switch to us from another provider, we can insure you immediately for unemployment cover if you satisfy just three conditions.

1. your previous insurance has been in force for at least 90 days;
2. you continue under the same policy terms as under your previous insurance; and
3. you have never made a claim on your previous insurance.

Making a claim

Making a claim is straightforward with payprotect. You are eligible to claim if you can’t work due to accident, sickness and/or unemployment after your excess period has elapsed but you won’t be paid until 30 days after this date. But you can’t make an unemployment claim in the first 180 days of the policy being put in place, although we will make an exception if you have switched from another provider (see above).

What doesn’t payprotect cover?

payprotect will only pay out for a maximum of 12 months and should not be confused with other products using the title ‘income protection’ which can pay out until a policyholder’s intended retirement date.

Another important thing to bear is mind is that payprotect will not pay off your loans or debts should you die. This is not what is has been designed for. But our life insurance cover can help ensure your family doesn’t struggle financially if you’re no longer around.

Like all income protection policies, payprotect also contains some important exclusions. It will not, for example, pay out for claims you knew you were going to make before taking out the policy or for medical conditions you have sought medical advice about during the last two years.

If you choose the optional unemployment section of the policy, it is also important to realise that – as with all payment protection insurance – unemployment is only covered if it is involuntary. So voluntary redundancy is excluded. Exclusions also apply to casual, seasonal and temporary work.

So, as with all insurance policies, it’s important to read the policy documents before buying payprotect. After all, you’re entering into an important contract and you’ll want to make sure you know exactly when you are covered.

^*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 band). 30-day excess, with an initial exclusion on unemployment cover of 180 days. Other conditions may apply.