Unemployment, Accident & Sickness Insurance - British Insurance

What is protection insurance?

Many people are unsure of what protection insurance is; this is largely due to the press' coverage of the banks' mis-selling of the insurance. Read our comprehensive guide here which explains exactly what this form of protection is, and how it can help you.

Why do I need protection insurance?

Just about everyone has financial responsibilities that need to be met every month. Think about your mortgage or rent, the loan repayment on your car or just water, TV licence and council tax. What would happen if you did not have enough income to meet those costs? Read why you need PPI cover

Which insurance to choose

This very much depends on which reasons for becoming unable to work you would like to cover and how long you would be able to cover these payments yourself should you lose your income. Find out about the types of PPI we offer.

Are you eligible for PPI?

Take a look at our new guide here, which helps to de-mystify the eligibility factors of protection insurance.

Compare insurances

At British Insurance we provide three types of protection; income protection, mortgage protection and loan payment protection. Check out the key differences. Compare Insurance plans, prices and rates…..

What is short term income protection insurance?

There’s so much confusion about what insurance products are available to protect your income, so we’ve put together these quick pointers based on questions our customers often ask us. Find out more about short term IPPI.

When do I need to apply

Protection insurance is for long term peace of mind. Therefore you should apply when you feel you have financial commitments that could not be met if you lost your income. There are also times when you should not apply as you would not be able to claim. Read when you can apply for PPI…

Transferring cover

If you already have a protection insurance policy, but would like to switch to a more competitive provider, there are certain things Read about tranferring cover and changing PPI policy….

Monthly benefit

Once you have chosen mortgage payment cover or short term income protection, you need to decide what amount you need to protect. This is called the monthly benefit. For mortgage cover, use the monthly mortgage payment you need to cover, including any mortgage related insurance premiums. British Insurance Mortgage Protection can cover a maximum monthly mortgage payment of £2,000 or 50% of your gross income, whichever is the lesser.

For income cover, have a look on your bank statement and add up your monthly financial commitments. British Insurance Income Protection can cover a maximum amount of £1,500 or 50% of your gross income, whichever is the lesser. You do not need to pay income tax on the benefit and therefore you don’t need to cover your full salary.

Excess periods

Work out how long you would be able to cover these payments yourself should you lose your income, for instance with savings or because of redundancy payouts. This would be your excess period, which is the period after which the monthly benefit would start if your claim is accepted. With British Insurance you can choose back to day one, a 30, 60, 90 or 180 days excess period. After your excess period, there is a waiting period of 30 days before payments are made, during which you need to be off work.

Unemployment cover, Accident and Sickness or both

Most of our customers choose Unemployment, Accident and Sickness cover. But you can also choose just unemployment cover to cover redundancy or you having to quit your job to become a full time carer for a member of your immediate family. It is also possible to select accident and sickness cover only.