About:
Short Term Income Protection cover pays out if you are unable to work due to illness or injury, however it will not pay out in the case of redundancy. The primary difference between an Income protection insurance policy and Critical Illness Insurance policy is the amount and frequency of pay out.
In an Income protection claim the pay out is periodic and generally a percentage of earnings usually 60% to 70% paid out on monthly basis and the said payment are exempt from tax, as compared to Critical Illness.
