Many people don’t fully understand the benefits of having income protection insurance. They may think that their savings will get them out of trouble if they were unable to work for a small period of time due to accident or illness. However income protection cover offers more features than just that 75% of salary. If you take out the basic cover that is what you will get; it will ensure that you can maintain your lifestyle and pay your bills.

But the extended income protection has many more features that will certainly help you and your family to cope in what may be difficult circumstances. What are these features? It all depends on which type of cover you get. The one that offers all the bells and whistles gives such additional features as: -

• Nursing home care. If you need extended care in a nursing home you will get an allowance to help cover the costs.


• Very often you may need treatment in another city. This can be costly when you take into consideration the travel expenses for yourself and your family. However, an allowance to help with the travelling costs will make all the difference and this is another feature of income protection.

Another feature that is included in both basic and extended cover is the benefit period. This is the length of time that you will be paid for once you are on claim. It can be one year, two years, five years or until you reach retirement age. In some cases you can choose the length of time, while with other income protection covers the length of time will be decided for you. Very often for those people who have high risk careers, the time of benefit is reduced. Of course the shorter the benefit time, the cheaper the protection.