| One of the first tips when looking to take out | | | | the policy for between 12 months and 24 months. |
| unemployment income protection insurance is to | | | | Unemployment income protection insurance is |
| not confuse this product with one of a similar | | | | taken to ensure that you would have something |
| name. Income payment protection and income | | | | to rely on if you lost your own income. The |
| protection insurance are two separate products. | | | | income it provided you with would be the sum |
| Income payment protection pays in the short | | | | that you insured when applying for the policy and |
| term and cover unemployment along with | | | | it would be tax-free. You would be able to use |
| accident and sickness. Income protection insurance | | | | the money to pay a wide range of outgoings that |
| would just cover accident and sickness, not | | | | needed keeping up with each month. One of the |
| unemployment and it pays out over the longer | | | | most important of these outgoings would be your |
| term which could be up to the age of retirement. | | | | mortgage payment. Your policy would provide |
| So when looking for protection for your income | | | | you with peace of mind that you are not going to |
| against unemployment then it is income payment | | | | get into arrears. Getting into mortgage arrears |
| protection that you need to buy. | | | | and not being able to catch up means that the |
| Another tip that will save you a great deal of | | | | lender will repossess your home through the |
| money is to buy your policy from an independent | | | | courts and a judge will set an eviction date. |
| payment protection specialist. High street lender | | | | You could also see yourself appearing in court if |
| usually offer policies but they charge huge | | | | you cannot keep up with loan and credit card |
| premiums which boosts up the loan or mortgage | | | | repayments. If you get behind on these then you |
| considerably. | | | | would at the least earn yourself a bad credit |
| You do have to know what is included in | | | | rating. This could make getting any kind of credit |
| unemployment income protection as all providers | | | | very hard in the future as all lenders take your |
| will add in exclusions. These have to be checked | | | | credit file into account. Depending on the amount |
| against your circumstances so that you know you | | | | you owe your lender could take you court to |
| would be eligible to claim against the policy. Once | | | | claim what you owe through possessions and this |
| you have then you can look at when the cover | | | | means a judge will send bailiffs to your home. |
| would begin to provide you with an income and | | | | Unemployment income protection insurance can |
| when it would end as this differs with providers. | | | | put a stop to all of this and much more. It would |
| Usually cover would start somewhere between | | | | allow you to be able to continue meeting all |
| days 30 and 90 of unemployment and some | | | | essential bills that go out each month and which |
| providers backdate the policy to the first day of | | | | keep your home running. It would also mean that |
| unemployment. You would then be able to relax | | | | you would be able to continue living your current |
| and concentrate on finding work while replying on | | | | lifestyle and not have to make many changes. |