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BUPA Income Protection Insurance

About Bupa

BUPA income insurance plans are offered to buyers under the life insurance bracket. The other life insurance plans offered to buyers by this insurer include term life insurance, total permanent disability insurance and trauma insurance. The term life insurance plans offered by this insurer also offer accidental death compensation.


BUPA Plans

BUPA income insurance plans and other life insurance plans can be purchased online. Buyers who are interested to purchase one of these plans are not required to undergo medical examinations such as physical examinations or blood tests. This insurer offers guaranteed acceptance of applications for a few personal insurance plans such as funeral insurance and death insurance. Policy holders and members may also be eligible to receive a 10% discount on many of the life insurance plans offered by this insurer provided they meet the eligibility criteria.


Premiums and Payment Plans

BUPA offers a variety of premium payment options to buyers who opt for income protection plans. Levelled and stepped premiums are two of these premium payment options. Levelled premiums allow buyers to pay a pre-decided and fixed amount for the policy for a long time. Stepped premiums allow buyers to pay variable amounts of premium for the entire tenure of the plan. Buyers who opt for stepped premiums usually start off by paying lesser premiums at first and with time, buyers are required to pay higher premiums.

About Income Insurance

Income insurance plans serve two important purposes; they provide peace of mind to people who opt for these policies and they ensure that once a claim is approved, the policy holder receives a large part of his annual salary towards periodic compensation payments. These payments are often used by buyers to pay household bills when they are unable to work temporarily; however these payments can also be used by buyers to pay for school fees or repay loans and mortgages. Usually, insurers that offer income insurance plans offer a maximum compensation amount that totals up to 75% of the buyer’s annual income. This amount is tax deductible and policy holders may be eligible to get other tax benefits if they qualify.


Cover Levels and Types

Buyers have the option to choose between basic and premium contracts. Buyers also have the option to choose between indemnity and agreed value contracts. As a general rule, agreed value contracts cost a few dollars more than indemnity contracts. It should be noted that agreed value contracts are usually recommended to self-employed professionals only. Indemnity contracts are ideal for employees who earn a fixed amount every year and do not have to worry about severe salary fluctuations. Buyers may also be given a choice between a short and a long wait period such as 30 days, 60 days or 90 days. Choosing the right waiting period is a must for those buyers who have children, elderly parents or other dependants to take care of.


Why Opt for BUPA Income Protection?

BUPA has proved to be a reputed and reliable insurer. Over the years, this insurer has paid thousands of claimants’ compensation payments in full. BUPA offers online policies which makes the process of applying and buying for policies an easy task.

Customer Reviews

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Income protection is a crucial part of any comprehensive financial plan. If you�d like some help customising the correct policy for you, or want to know more about the income protection insurance benefits.