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THE TIMES 19TH MARCH 2005 - 19TH MARCH 2005
Burgesses British Income Protection
What is it?
A package that offers an income if you become unemployed or incapacitated. Cover is available to most UK residents below retirement age. The maximum monthly benefit is £1,000.
How does it work?
Customers pay monthly premiums to secure the tax-free benefits. For as little as £3 a month customer can obtain cover for £100 a month. Cover is available for unemployment, incapacity or a combination of the two.
What are the plus points?
The premiums are competitive, say Richard Lowe, of Savills Private Finance, the mortgage broker. The range of occupations accepted is wide and can include the self employed.
What are the drawbacks?
Mr Lowe says that even where self employed people are deemed eligible, they may not be able to make a successful claim. The maximum monthly benefit would be inadequate for a high earner.
The verdict
A cautious thumbs up. Mr Lowe says. On the incapacity side, it widens the range of people who can obtain cover, though the unemployment policy is not especially good.
