The Income Protection Insurance and IPP are the two different entities. Quite often, people compare the two terms, but according to me, the comparison is not at all appropriate. The Income Protection Insurance is related to the long term investment whereas the IP is the short term or umbrella term investment. IPP is also referred as the PPI i.e. Payment protection Insurance. It will provide you the financial help in case of any accident or sickness. Under normal condition, it offers you the financial help for 1 to 2 years only with 50% of the monthly’s income. On the other hand, the Income Protection Insurance policies cover the incidents like involuntary redundancy and long term illness. The involuntary redundancy is considered as the greatest benefit of these policies because it will grant you the payment cover, protection of your income against the other insurance products.

The PPI does not offer any help in the circumstances of involuntary redundancy, but it can be extremely useful at the times of short term unemployment. Several modifications have been seen in the policies related to the PPI, especially in Australia. People in Australia prefer to use the PPI Policies as compared to the Income Protection Insurance policies. The researchers claim that if these modifications are implemented properly, surely there will be a significant increase in the sales of these policies too. The negative and ill behavior of the large institutions and banks has also been responsible for the enhancement in the popularity of these PPI Policies. These banks force the customers like anything to buy these products and as a consequence of which they end up in nothing.

Some unemployed and senior persons who cannot afford to pay the regular investments in the context of Income Protection Insurance make use of the PPI to get the returns. For many people the complications of the prolonged illness or wound might be enough to face the financial crisis, in such a situation perhaps the only option is to opt for the PPI or IPP policies. The organization will start paying you just after 30 to 90 days of your investment.    


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