Can Part Time Workers Get Income Protection Insurance?
To be eligible for Income Protection you must meet the minimum working requirements for the policy you chose. There are a few insurance companies who offer income protection insurance to clients who work part time, which is helpful to know when comparing cover options.
A minimum of 20 hours of work per week is usually required to be eligible for cover, although this may vary between insurers and for particular occupations. If you are a casual employee, you will need to demonstrate that you have worked consistent hours for an extended period of time, for example a minimum of two years.
When applying for income protection, you may also need to demonstrate that you earn a minimum income amount to be eligible for cover.
The insurer needs to consider the number of hours you work a week, to calculate your income and therefore any benefits that you would receive. If your work hours fluctuate, this becomes difficult to establish and assess when a claim is submitted.