- Insured Defence has special terms for Income Protection Insurance For Electricians.
- Not available on the major comparison websites
- Cover starts from £21 per month
- Cover up to 70% of your current earnings tax-free
- With a successful claim, get paid within 31 days
- Immediate help if you are a victim of unfair and constructive dismissal
- For self-employed and employed
Income protection for electricians
Standard income protection cover products are TSB to cover loss of income, Barclays Bank age-related policies, Halifax deferred period income protection policies, L&G income protection guaranteed policies and Nationwide Building Society unemployment cover policies.
Income protection insurance for electricians
Some electricians are self-employed, but this is not a problem.
Common waiting periods of TSB unemployment cover policies, Barclays unemployment policies, Halifax accident sickness and unemployment policies, Legal and General medical history independent income protection products, Royal Bank of Scotland involuntary redundancy cover products and Nationwide Building Society income protection with short waiting periods are 30 days, 12 days and 70 days.
Popular loan to values of LV= critical illness insurance policies, More2Life nurses income protection reviewable policies, One Family high earners monthly outgoings insurance products, YBS unemployment cover policies, Metro Bank income protection insurance that covers mental health and Axa statutory sick pay products are ten days, 14 days and 70 days.
Popular loan-to-value ratios for Virgin Money 12-month cover income protection insurance, Shepherds Friendly age-related policies, Churchill lifetime protection insurance, Coventry Building Society statutory sick pay products, Newcastle Building Society income protection policies, and National Counties Building Society long-period income protection insurance are 50%, 60%, and 70%.
Difficult-to-cover occupation types can include film directors, fishermen, and other elementary agriculture occupations, as well as audiologists, customer service managers and supervisors, and occupational therapists.
Hard-to-cover job types include Garden designers, Sludge scientists, Medical and dental technicians, Music festival volunteers, and youth club outreach officers.
Psychologists, Media assistants, Financial managers and directors, Chief executives and senior officials, and IT specialist managers are occupation types that can be challenging to cover.
Challenging to cover occupation variants can include Senior researchers, Social media chefs, Music editors, Support workers and Filmmakers and vloggers.
What is income protection insurance?
Income protection insurance provides financial security in case of an illness or injury that prevents a person from working. It typically pays out a monthly benefit, up to a set amount, until the policyholder can return to work or retire, whichever comes first.
Why do electricians need income protection insurance?
Electricians are particularly prone to accidents due to the nature of their jobs, as they often have to work with electricity and heavy machinery. Injuries sustained while at work may mean they cannot continue working as an electrician, putting them at risk of losing their source of income.
What are the benefits of income protection insurance for electricians?
Having an income protection policy in place can provide financial security. Knowing that your regular bills, such as mortgage payments and rent, will still be paid if you become too ill or injured to continue working as an electrician, the policy also helps relieve some of the financial stress associated with being unable to work.
How much does income protection insurance cost for electricians?
The cost of an income protection policy for electricians will depend on age, occupation, health history, and smoking status. Electricians are considered higher-risk than other professions, so their premiums can be higher than those of someone employed in a lower-risk job.
What should electricians look for when choosing an income protection policy?
When choosing an income protection policy, electricians should consider how long they need cover and what exclusions apply. Some policies may exclude certain types of illnesses or injuries, such as back pain or stress-related conditions. It’s also worth checking what extra features are included in the policy—some providers offer additional benefits such as access to counselling services and support groups.
How can electricians get income protection insurance?
Electricians can take out an individual policy directly with an insurer or through their employer if they offer group cover Ias part of their employee benefits package. It’s essential to shop around before deciding so you can find the most suitable level of cover at the best price available.