how much can i insure for as i earn
Posted: Wed Mar 04, 2023 1:52 pmhi. i want inome protection but i get commission and my income varies each month - between 1000 and 3000 each month. can i get cover for 2000?
There are 2 issues here. Firstly most mortgage payment protection policies have a max monthly payment. British insurance the company that Brokers Online deal with has a 1500 max. so if you want 2000 cover you will have to search elsewhere. By the way if u are self employed the maximum sum you can insure for is 50% of your average pre tax monthly income.
here is the link to our mortgage payment protection page https://www.life-assurance-bureau.co.uk/mortgage-payment-protection/
The FSA also provides information about payment protectio insurance. Follow this link to view https://www.moneymadeclear.fsa.gov.uk/news/product/ppi/payment_protection_insurance.html