Payment protection insurance Vs life insurance

[Itstime2023]

Hi

I'm going to be taking out life Insurance anyway as will be starting a family soon.
However I want to take payment protection insurance as well. Do any life insurance include this?
I don't mean for critical illness.
Just for any type of illness. I've had to take a week off work and lost quite a bit in pay and had me thinking, say should I break a leg and need longer off work I need to have some kind of cover in place. SSP only in my company.

Any advice?

My advice is to self insure.

There are so many cases of companies refusing to pay out that it puts people off.

A good financial adviser will recommend that you have a savings fund of first one months expenses, then 3 months, then 6 months, then 12. So far I've managed to accumulate a pot of 6 months expenses. I'll use this if I'm off sick rather than take a risk with paying insurers who don't pay out.

They only pay out for 12 months most of the time anyway.

Would using savings be an option for you?

Income protection insurance is probably what you need, it pays an amount after so long off sick (depending on what you set it to).
My personal experience is I had life, critical illness and Income protection.
I became ill overnight, ended up disabled, and lost my job. My one saving grace was that I had income protection and for a year it payed my bills and mortgage while I sorted benefits and an ill health pension. I had mine set to delay till 6 months as I got good sickness pay. So for 18 months after becoming ill I was financially supported.
Now I've not been able to get life insurance since.
I couldn't claim on critical illness cover because my disability/illness wasn't on the list. That's not to say it would be useful for many.

That sounds like really good financial planning @Itwasfinetillitwasnt although obviously i'm sorry you were so ill.

I think you need to sit down and have a good think about what you will need and how long you will need it for and then plan accordingly. Meanwhile, keep saving!