How much will Short Term Income Protection Insurance cost?

You can choose Short Term Income Protection Insurance for unemployment on its own, sickness and accident (disability), or all three combined. The cheapest prices that we have been able to find is as follows: -

* Cover for disability (that's sickness or accident) - £3.50 per £100 of monthly income
* Cover for unemployment - £3.50 per £100 of monthly income
* Cover for disability and unemployment (both) - £5.50 per £100 of monthly income
* Men and women of all ages charged the same premiums

A Short Term Income Protection policy usually maintains payments for up to 12 months for single claim. Before you can claim you usually need to be off work for 30 days, but then, on the best policies, the income is then backdated to the first day you were unable to work. You need to check the small print!

We believe that it it's a good idea to insure for disability and unemployment for the following reasons:

* 28 % of people have been off work for more than a month due to illness or accident in the last five years
* 1 in 3 people aged 25 - 34 have been unemployed for more than a month.