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salary protection

  • 29-05-2010 4:37pm
    #1
    bungaro79
    Registered Users, Registered Users 2 Posts: 1,214 ✭✭✭


    hi,
    had a rep call into work during the week selling salary protection to us with the usual doom and gloom stories to try and make us sign there and then. have a permanent job so not really concerned about redundancy but with a family and mortgage the safety net of it does seem like a good idea to me. so just wondering what companies out there do offer the service and if anything were to happen have they a good reputation of paying money out. apparently this company have a bad reputation for approving claims
    cheers!


Comments

  • #2
    AARRRGH
    Closed Accounts Posts: 12,382 ✭✭✭✭AARRRGH


    I've heard horror stories about these insurance schemes. For example, if your partner still has a job you don't qualify.


  • #3
    bungaro79
    Registered Users, Registered Users 2 Posts: 1,214 ✭✭✭bungaro79


    thanks aaargh, reading more into it and there seems to be lots and lots of conditions in the small print which you wouldnt think would make you ineligble to get a payout


  • #4
    threebeards
    Registered Users, Registered Users 2 Posts: 1,040 ✭✭✭threebeards


    bungaro79 wrote: »
    thanks aaargh, reading more into it and there seems to be lots and lots of conditions in the small print which you wouldnt think would make you ineligble to get a payout

    To be honest I think it's brilliant protection if you can get it. I have an aunt who had to retire early (48) due to ill health. She would have been buggered without it


  • #5
    gogo
    Registered Users, Registered Users 2 Posts: 1,452 ✭✭✭gogo


    The small print can be tricky, but the trick is to go in with all your queries and too ask them before you sign.
    Personally think that income protection is a great thing, seen many a person that has benefited from it.
    re: your partner still having a job, income protection tends to have a clause regarding the 'main' earner. so if your partner brings in more than you and you are out sick or something, you don't qualify. In this senario take it out on the main earner, be it you or your partner. Ask how this relates to the policy your taking out. With everything, its buyer beware, if you dont ask the right questions, you cant complain afterwards.
    Check out the following: its informative but unbiased toward any scheme, after that its up to you.
    http://www.itsyourmoney.ie/index.jsp?pID=709&nID=714


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