Affordable Term Life Insurance | Affordable Term Life Insurance quote

The income you receive is not guaranteed, because you need to work for it. There comes a time, when you are not able to work in order to receive the income, such as when you are sick or have suffered injuries due to accidents.  The Guaranteed acceptance income protection is designed to offer you the income in 4 weekly cash installment when such a situation occurs. You are eligible for this cover if:

• You are a permanent resident of the UK
• You are between 18-65 years old at the start of the policy

Before making a decision whether you need the guaranteed acceptance income protection, keep in mind that it does not come with any form of cash in value, and it might affect your eligibility to the state benefits.

What is not covered?

There are certain situations that will not be covered by this policy, including:

• When the accident or sickness is due to a pre-existing condition, of which you are knowledgeable for 2 years.
• Sickness due to pregnancy
• Backache- unless you have a back condition, proven by an x-ray
• Accident  or sickness results from excessive consumption of alcohol or drug abuse
• As a result of duty in case of Armed Forces
• For pilots and cabin crew members when on duty
• As a result of dangerous hobbies like motor racing or parachuting, among others

It is important that you find out the types of situations that are covered or not covered when consulting the insurance companies so that you know what to expect.

Start and end of policy

You will be provided with a schedule of benefits that will indicate when the guaranteed acceptance income protection policy will start. Remember, the policy will continue so long as you pay the premium per month.  The cover will come to an end on 4 different occasions; either when

• You have received the maximum benefit from your insurance company
• After you attain 70 years of age, on your policy anniversary
• In the case  of your death
• When you cancel the policy

Whichever situation occurs earlier

The cancellation of the policy can be done the first 30 days of the cover. This is free and you will not need to pay any penalties. When the 30 days are over, you will are able to cancel the policy without a penalty, although you will not receive the find or the paid premiums.

Receiving the claim

You will receive the guaranteed acceptance insurance protection after meeting certain conditions, which include:

• Being under the care of a doctor
• Being incapacitated as a result of a disability
• Providing the insurance company with the evidence it needs to confirm that you claim is valid.

The company will stop the payment when you are no longer incapacitated and you are unable to provide the evidence needed to prove their incapacity, in the event of your death or when it has made all the benefits of the guaranteed acceptance income protection.