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Is personal accident insurance the same as income protection. Ad Ages 18 - 59 Accepted. Do Not Let The Banks Refuse To Pay You. Personal Accident Insurance PAI and Income Protection Insurance are two common covers to consider.
While Income Protection pays you a percentage of your salary if youre unable to work due to illness or injury Payment Protection Insurance PPI covers the repayments on a specific debt such as a mortgage loan or credit card. Get Accident Hospital Stay Insurance- Giving you financial help when you need it most. Compare Quotes From Whole UK Market In Just 60 Seconds.
Both can be extremely beneficial and prove a valuable investment however with key differences between them it is important to seek expert advice to ensure you purchase the right policy for your needs and are fully protected. Ad Child Cover Active Lifestyle Cover Healthcare Cover. Arb Forestry Cover.
However these two types of insurance policies are quite different and choosing the correct one for your particular needs can have a real effect on your household finances. Personal accident and income protection insurance are designed to replace your income if youre temporarily unfit to work. No these are two different things.
It covers accidents but is not the same as personal accident insurance. However personal accident insurance sometimes referred to as personal injury insurance only covers you for accidental injuries whereas income protection can pay you if youre sick or injured. The most suitable policy for you depends on your individual situation but theres no doubting that income protection offers a more extensive level of cover and a long-term reliable solution to being unable to work through no fault of your own.
Its often referred to as short term income protection insurance or payment protection insurance as payouts are restricted so you can only claim for a maximum of 12 to 24 months. Both accident and sickness insurance and income protection are designed to provide you with financial assistance should you be unable to work because of an illness or injury. Is income protection insurance the same as PPI.