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|  Before You Buy
| | - Don't buy an income protection insurance policy without first understanding when your policy will pay benefits. Income protection policies vary greatly - some will pay if you are unable to do your own job while others will pay out only if you are unable to do any job.
- Do make sure you understand the exclusions in your income protection policy. Nothing can be more upsetting than to discover that your illness is one of them.
- Don't expect the state to rush to your rescue if you suffer long-term illness. Eligibility for incapacity benefit is strict. After 28 weeks of illness claimants must undergo a test that checks their ability to carry out a range of work-related activities such as walking, sitting and going up and down stairs. Even if you qualify, benefits are minimal and taxable.
- Do remember to tell the insurer if you change jobs. Failure to do so could invalidate a future claim.
- Don't forget to ask your employer if it offers a group-sponsored income protection insurance policy. Membership of such a scheme will cost less than if you obtain cover individually.
- Do take independent financial advice when buying a policy. The income protection insurance market is extremely complicated and you could buy a wholly inappropriate policy.
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