Income protection

[benemes]

I am looking at taking out some income protection insurance and have found 2 firms.

One is: Marketing & Management Services Ltd (called mms)
The other is : First Call Payment Protection

I am looking carefully as I have heard horror stories about not paying out etc.

Has anyone got any experience with the above because both claim to be pretty good?

Cheers - Alb

I don't have experience of the two companies you've mentioned, are they the brokers (I.e. sellers of the insurance policies) or the underwriters (underwrite the risk and set the Ts&Cs on the policy)?

Have you checked them on Moneysupermarket or similar?

Check to ensure the administrators/brokers state they are regulated by the FCA Financial Conduct Authority, if so there is no reason they wouldn't pay out fairly unless (a) there is some reason to doubt that the claim is valid, or (b) a claim is made for something not covered in the policy Ts&Cs.

I've always been put off income protection because any quotes I've received in the past have been astronomically expensive.

Any income protection should be if you are prevented from doing your own job. Many of the cheaper policies only cover you if you are unable to work at all. You need really good advice.
You need to consider all the options as to what you want cover would you be better with critical illness cover that pays out a lump sum of you are diagnosed with certain illnesses.

Thanks all