Do you need an adviser for income protection?
Income protection policies can differ in definitions, waiting periods, benefit levels and exclusions. Advice can help compare the detail rather than only the premium.
What is income protection?
Income protection insurance is designed to replace part of income if illness or injury prevents someone from working, subject to the policy terms and claim definition.
Why might advice help?
MoneyHelper says an independent financial adviser or specialist broker can take consumers through available policies and help them choose suitable cover. This can be especially useful where medical history, occupation or policy definitions make comparison more complex.
What should you compare?
How can the adviser be paid?
MoneyHelper notes that an adviser or broker may charge a fee or may be paid commission by insurance companies. Ask how the service is paid for before proceeding.