subject: The UK's Favourite Income Payment Protection Companies [print this page] The UK's Favourite Income Payment Protection Companies
Income payment protection is a financial product designed to cover outstanding debt such as loan, mortgage or credit card repayments. Should a policy holder find themselves out of work unexpectedly or suffer ill health, IPP covers the repayment for outstanding debt. With rising levels of unemployment and the uncertainty caused by the recession, sales of this type of insurance have become more and more people as Brits look to protect their assets in the face of economic uncertainty. So which of the UK's big insurance providers prove the most popular?
Aviva the UK's largest insurance provider is one of, if not the, most popular IPP insurer in Britain. With over 2.4 million people claiming benefit from the state for incapacity in a bid to meet their financial outgoings. Of the 2.4 million claiming incapacity, 80% of those claimed for more than 6 months while 40% needed financial support for more than 5 years. Founded in the 1700s, Aviva boasts one of the most loyal customer bases and continues to expand the cover available to its customers on a regular basis.
Hot on the heels of Aviva, Edinburgh based Standard Life also offer a comprehensive and straightforward level of cover for customers seeking IPP. Pairing up with Liverpool Victoria known throughout the industry as the UK's most friendly insurance provider Standard Life sell IPP for as little as 5 a month. The benefits of Standard Life's income payment protection policies include no limit to the number of claims, regular payments during sickness and accident as well as insurance of up to 50% of an individual's income.
Finally, IPP in the UK wouldn't be complete without packages from one of the countries most recognisable providers Direct Line. With the company's recognisable logo of the red phone on wheels, Direct Line boast having the cheapest IPP packages on the market today and don't allow their policies to be assessed via price comparison sites since customers can get most for their money by going directly and cutting out the middle man. An offshoot of the Royal Bank of Scotland, the company was founded as little as 15 years ago but soon became one the UK's most popular providers.
Are you looking to protect your family and loved ones' financial well being with income payment protection? Why not opt for one of the UK's most popular providers to ensure a great deal on your money.
