Call us free on 0800 862 0390

Sign in to view your quotes
Email address:
Password or PIN:

Forgotten your password? Reset it here.
please wait ...

Income Protection Insurance Glossary

There are many industry terms associated with income protection insurance which can sometimes be confusing. To help you understand more about buying income protection insurance, ActiveQuote has provided an income protection glossary to explain the key terms surrounding the product.

Activities of daily living: The policyholder is considered incapacitated if they are unable, following illness or accident to perform a number of pre-defined activities of daily living such as dressing or washing.
Any occupation: The policyholder is considered incapacitated if they are unable, following illness or accident to perform any occupation at all.
ASU: Accident, Sickness and Unemployment Insurance will pay you a monthly benefit if you are unable to work through accidental injury, illness or involuntary unemployment.
Benefit: The amount that will be paid out by a policy.
Benefit Period: The length of time that your benefit will be paid for.
Claim: A notification to your income protection insurer requesting payment of an amount due under the terms of the policy.
Waiting period: Your waiting period is the length of time after making a claim that the policy will begin to pay out.
ESA: Employment Support Allowance is provided by the government to financially aid people who are incapacitated.
Incapacity: Inability to work due to illness, injury or disability.
Income Protection Insurance: Income Protection Insurance will pay you a monthly benefit if you are unable to work through accidental injury or illness.
MPPI: Mortgage Payment Protection Insurance (MPPI) is a type of short term Income Protection that will meet your mortgage repayments if you cannot work through accident, sickness or unemployment.
Occupation Class: The category into which an insurer places an occupation depending on the risks involved with it.
Own occupation: The policyholder is considered incapacitated if they are unable to perform their own occupation and are not working in another job.
Permanent Health Insurance: An older term for long-term income protection insurance.
Policy Term: The period for which your income protection policy provides cover.
Suited occupation: The policyholder is considered incapacitated if they are unable to perform an occupation suitable to them given their training and education.

If you still have questions about income protection insurance, compare quotes online now, or call one of our advisors for free on 0800 862 0373.

Income Protection Insurance Glossary | Income Protection | ActiveQuoteIncome Protection Insurance can be complicated. Our glossary of income protection terms will help you understand the key phrases to help you find the best cover in the UK.    tweet it on twittershare with your friends on Facebookshare with your friends on MySpaceBlog it on your LinkedIn profile

No.1 income protection broker as rated by customers

A great service from the initial call, to finalising the agreement. I would highly recommend to my family and friends.

Review centre member

Proactive, efficient, and offered me insurance I need. I would say half price I would end up paying if I did it by myself. Many thanks.

Review centre member

Excellent service. Explained everything in detail and really helped to find the right insurance best suited to my needs - which wasn't necessarily the most expensive. 

Review centre member

Good value and the advisor was very helpful and recommended the best policy for my grandson. I would definitely use this service again and recommend to others.

Review centre member

We were contacted in good time to make a knowledgable choice. We were given plenty of options with lots of information to enable us to make the right choice.

Review centre member

The service I received was excellent, the staff member was very efficient and knowledgable. She went out of her way to get the best policy for me.

Review centre member

Great service. I really appreciated the help provided by Active Quote to arrange health insurance. The agent was very informative and proactive. Many thanks!

Review centre member

I received excellent care and attention from the first phone call till the last. Friendly, efficient and patient.

Review centre member

Staff are very helpful, friendly and polite. They call back when they say they will and keep you up to date with progress. Pleasure to deal with.

Review centre member

Very polite and friendly, and gave detailed explanations of all aspects of the cover. Reassuring to know that if you do have a problem there is someone you can contact.

Review centre member

Sign up to special offers

Sign-up for our FREE email newsletter to receive the latest offers tailored to your needs:

 

This site uses cookies in order to work correctly - these are not harmful and do not contain personal information. By using this site you consent to this. I understand  Tell me more

This site is operated by Insurance Broker ActiveQuote Ltd registered in England & Wales company number 6765845.
Authorised and Regulated by the Financial Conduct Authority (FCA). Firm reference number 501109 as detailed on the Financial Services Register. Please read our Key Facts document.
For information about your rights as a consumer visit Citizens Advice.

Our insurance comparison service is free and easy for you to use, but you are responsible for making sure all your information is entered correctly, and for choosing your insurer.