You might believe you’d be more likely to call on your income protection policy later in your working life, but data from protection insurer, The Exeter, show their average claimant was 40, and on certain products, just 33.
Income protection is designed to pay an income if you’re unable to work as a result of an accident, illness, or, with some policies, unemployment. The benefit usually kicks in after what’s called a deferred period and can last until you’re able to return to work or you retire.
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