I often think that redundancy insurance better describes mortgage insurance because claiming is reliant on losing your job or becoming unable to work due to sickness or an accident.
It is not every day that people think of getting insurance and lets face it, you only need it when you need it, its not as if redundancy insurance enhances the quality of your life on a day to day basis. However if the crunch comes and you need it, redundancy insurance, or whatever name you give it, can save you and your family from being turned out on to the streets.
Then there's the name income protection but what does that mean to most people? It used to clear that income insurance protected you against short periods of accident sickness or unemployment. However this term appears to have been hijacked by the permanent health insurance lobby and if you look on the internet today you will see both types of insurance offered under the name of income protection insurance. No wonder people are confused.
Surely it isn't too late for the FSA to take the lead here, even so close to an election. I preferred the good old days when you knew what mortgage or redundancy insurance etc. meant but new people looking at what's on offer are confused. The FSA should make it clear what these different types of insurances are called. They need to decide if income protection insurance is for short term redundancy cover or is it for permanent health cover. At the moment it is both and this can't be right.
Florida Auto Insurance
