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4 key things to bear in mind when preparing for your quote...
Your Health
Your health plays a crucial role in determining your life insurance premiums. Insurers assess your medical history, current health conditions, and any risk factors to gauge your life expectancy. Better health typically means lower premiums, so it’s important to be honest and thorough about your medical history.
Your Occupation
Certain occupations carry higher risks than others, such as those involving manual labor or hazardous environments. Insurers consider these risks when calculating your premiums, so be prepared to provide detailed information about your job duties and work environment.
Your Age
Age is a fundamental factor in life insurance pricing. Generally, the younger you are, the lower your premiums will be. This is because younger individuals are statistically less likely to file a claim in the near future. It’s advantageous to secure a policy early to lock in lower rates and ensure long-term coverage.
Your Lifestyle
Lifestyle choices such as smoking and high risk hobbies can impact your life insurance rates. Insurers evaluate these behaviors to determine your overall risk level. Leading a healthy lifestyle can help you obtain more favorable premiums, so it’s beneficial to disclose any relevant lifestyle habits.
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If you’ve got questions, we’ve got answers…
Income protection is an insurance policy that can pay you a regular income if you are unable to work due to an accident or illness. It can help you cover your essential expenses and maintain your lifestyle, providing you with peace of mind.
Anyone who relies on their income to cover their living expenses can benefit from income protection cover. It is especially useful for those who are self-employed or don’t have sick pay benefits from their employer.
The cost of Income Protection can vary depending on a range of factors, such as your age, health, and the amount of cover you need. It’s important to shop around and compare different policies to find one that offers the right level of cover for your needs and budget. Speak to one of our advisors, who can ensure you find the right product for your needs.
Income protection cover pays out a regular income if you are unable to work due to illness or injury. You choose the amount of cover you need and the waiting period before the policy starts paying out. The longer the waiting period, the lower the premium.
The cost of income protection cover can be affected by various factors, such as your age, occupation, health, and the amount of cover you need. If you have a high-risk job or a pre-existing medical condition, you may have to pay a higher premium.
In short, yes. This is probably one of the most important things when you’re self-employed. If you suffer from an illness or injury, which leaves you unable to work, what would you do? You may be able to apply for Employment and Support Allowance, which is nominal compared to your monthly income. You can expect to receive up to two-thirds of your monthly salary.