claiming income protection

rarasek123

Hi, I'm just wondering if anybody out there has an experience with claiming income protection for a self-employed person who had to close the business (and so does not qualify for unemployment benefit but neither for allowance). It is turning out not to be as simple and straight forward as I was let to believe by the agent who sold it (not a surprise, unfortunately) Thanks a lot for any info.

Income Protection provides you with a replacement income if you are unable to carry out your usual work due to any illness, any injury, any disability or any accident.

Did you have to close your business due to one of these events?

rarasek123

None of the those. I am claiming due to "business failure", ie unemployment, ie work ran out totally and I closed down. The policy covers that. It seems it is easy enough to claim for former employees (they qualify straight forward for Jobseekers Benefit). But a (ex-) self-employed is a different story. I was just wondering if anybody had any practical experience with this kind of claim (from the claimant's point of view).

liffeyguy

The policy wouldn't usually cover business failure..you have to medically incapacitated for more than 13, 26 or 52 weeks depending on your policy..also you have to have suffered a loss of income I'm almost sure..I am not aware of any income protection policy that would cover your situation I'm afraid

rarasek123

The policy does cover this situation and it was sold to cover exactly this situation. But it looks like it is not very common.

liffeyguy

interesting..I didn't think the friends first income protection policy covered this..or was it another insurer do you mind me asking?

kaiser sauze

I would also be very interested to know who provides this type of policy.