The amount of income you are allowed to claim will not replace the exact amount of money you were earning before you had to stop work.

Is personal accident insurance the same as income protection. Ad Ages 18 - 59 Accepted. Ad You Could Still Be Due A PPI Refund Even If You Knowingly Bought The Policy. Ad Child Cover Active Lifestyle Cover Healthcare Cover.

The Simplest Way To Buy Accident Injury Insurance Online. Find out how we can help you if you have a complaint about PPI. However even though they appear very similar they differ in relation to their benefit and waiting period as well as the insurers ability to cancel your policy during significant life changes.

Lets be clear - income protection isnt the same as the widely mis-sold payment protection insurance PPI. Where PPI covers a particular debt and any payouts go to your lender income protection hands you a tax-free proportion of your income if youre unable to work because of illness or injury. Ad Compare Leading Providers and Get Our Best Insurance Deals At MoneySuperMarket.

No Medical Questions Immediate Cover. 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. 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.

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. ASU insurance Accident sickness and unemployment insurance ASU pays out if you lose your job or become unable to work through illness injury or redundancy. It covers accidents but is not the same as personal accident insurance.

Is income protection insurance the same as PPI. 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. No these are two different things.