Introduction to Income Protection Quotes and Its Types - Check them Now!

 



Ever thought about what would happen if you fell sick and somehow become unable to work? These life-changing events are quite common. It can directly affect the household's future income. This is when income protection insurance quotes come to the rescue. Here are a few things that you should know. 

What is Income Protection?

Income protection quotes can be defined as a type of insurance that pays tax-free cash. It is given during the period of redundancy, sickness, or if an individual meets an accident. Basically, the main motive of this is to offer mental peace to a person in Ireland. It makes them feel supported by covering all the expenses for the time one is off work. Income protection is also known as accident insurance, redundancy insurance, or sickness insurance. 

What Are The Types of Income Protection? 

The type of insurance one may need varies from one lifestyle to another. For example- if you have a family or dependents and the insurance that exists already at the workplace. Here is the list of types of income protection quotes that you should know about. 

  • Mortgage Protection Insurance 

This type of insurance helps to repay any mortgage that you are unable to pay. Mortgage Protection Insurance Ireland Quote may pay off the lender or heir. This totally depends on the terms and policies available.

  • Redundancy Insurance 

After Mortgage Protection Insurance, Ireland quote comes to the Redundancy insurance. It is also known as unemployment insurance. This insurance pays out an individual covering the household expenses when they lose their job. 

  • Accident and Sickness Insurance 

Accident and Sickness insurance pays off when a person gets injured or falls sick. It continues to pay off until a person starts to work again. 

  • Loan Protection Insurance 

Just like Mortgage Protection insurance Ireland, this loan protection insurance works in the same way. If a person has too many personal loans and his income has dropped. Suppose he struggles to repay them. Then this insurance helps to cover it.

In the End

People who are struggling to repay loans or mortgages. The ones who have fallen sick need income protection quotes for themselves. Just know that an income protection policy has the power to prepare you for the unexpected besides peace of mind. Check out Income Protection Quotes of renowned companies to get the best offers.

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