Income Protection

0808 169 1090

What is income protection insurance?

If you get sick or injured and can’t work, income protection pays you part of your monthly income. It’s tax-free and helps you protect your finances while you recover.

There are three income protection options, these will be dependent to individual Insurance providers, however our income protection packages can help you protect the following:

Because it’s tax-free, this should replace most of your salary.

Do I need income protection insurance?

How much income protection cover do you need?

Call us on 0808 169 1090 to speak to an adviser.

What does income protection insurance cover?

What it covers:

What it doesn’t cover:

Your income protection insurance options

Arrow-1

Short Term Income Protection Cover

Get 60% of your salary, up to a payment of £5,000 a month

50% after that, capped at
£10,000 per month

Get payments for up to
two years per claim.

Arrow-2

Income Protection Cover

Get 60% of your salary, up to a payment of £5,000 a month

50% after that, capped at
£10,000 per month

Get payments as long
as your plan lasts.

Arrow-3

Income Protection Cover Plus

Get 60% of your salary, up to a payment of £5,000 a month

50% after that, capped at
£16,666 per month

Get payments as long
as your plan lasts.

The above are examples only at time of press, we provide advice on all providers products which differ from provider to provider. (see specific providers terms & conditions)

Income Protection Insurance - FAQ's

No, the income you receive is tax-free. This means you should be able to cover most of your monthly outgoings.

You usually have to wait at least four weeks but payments can start up to two years after you stop work.

Income protection policies don't cover this.

Income protection doesn’t cover:

  • If you’re sick less than your policy’s deferred or waiting period
  • If you’re made redundant or are dismissed.

If you can't work due to illness or injury, long-term income protection pays you a monthly income. If you can't work, it pays out until retirement age. It's also known as long-term sickness insurance.

Short-term income Protection Insurance covers you for a fixed amount of time if you’re sick and can’t work. This is usually six months to two years.

Income protection pays out a monthly income to replace yours if you're injured or sick, and can't work. It's support for both you and your family.

Life insurance pays out when you die, or if you're diagnosed with a terminal illness.

It depends on how much you need to maintain your current lifestyle and what your outgoings are.

Even if you do qualify for government benefits, you might only get between £74.35 and £113.551 per week. Could you and your family survive on this level of support?

For more information on the Employment and Support Allowance, visit gov.uk.

You can take out income protection insurance at anytime. A lot of people think about taking out a plan when they’re changing jobs, getting married or starting a family.

With most policies you usually have to wait at least three months after you stop work for payments to start. This is called the deferred period, or waiting period. Some deferred periods last up to two years.

You have a choice of deferred periods. This is usually done to match sick pay and the longer the deferred period the more affordable the premium is. For example, if you have six months of sick pay, then you would set your deferred period to six months.

Your premium will depend on few things, like:

  • Your age;
  • Your medical history and your family’s medical history;
  • Your job;
  • Yow much alcohol you drink;
  • Your choice of deferred or waiting period;
  • If you’re a smoker (or use other tobacco products); and
  • What type of cover you choose. We have three types; Short Term Income Protection Cover, Income Protection Cover and Income Protection Cover Plus. 

Yes, if you’re self-employed, you can choose from any of our plans. You can also choose to start receiving pay outs from as early as one month.

The plan only pays out if you're unable to work due to accident or sickness during the term of your plan. Once your policy has reached its end date, your cover stops. This plan isn’t an investment so there’s no cash value when your cover ends.

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