Income Protection

Considering the financial impact of losing income due to health issues is crucial. If such a loss could severely strain your finances and you’re unwilling to face that risk, having income protection insurance could be invaluable.

Income protection insurance provides a regular payout if illness or disability prevents you from working, continuing until you can work again, retire, or the policy ends.

Income protection is designed to assist with essential expenses, not to replace all lost earnings. It aims to cover critical outgoings like mortgage or rent, utilities, or food while you recover.

Typically you can insure up to 70%, but 50% is more common. you can use our income protection calculator for guidance.

Income protection does not apply if you’re unemployed for non-medical reasons, such as redundancy. A medical professional’s sign-off is required to make a claim.

While life insurance provides a payout upon death, income protection offers support when sickness or injury prevents work.

Life insurance is essential for those with dependents or debts, and income protection is crucial for those reliant on their working income.

Income protection does not offer a payout upon death. For financial support to dependents in such events, life insurance is the appropriate choice.

Income protection replaces a part of your income during illness or after an accident until you can work again, retire, die, or the policy term ends, whichever comes first.

Income protection cover can go up to 65% of gross income, with some plans offering up to 70%. You can use our income protection calculator to give you an initial guide.

While not a mortgage requirement, income protection offers a safety net for mortgage repayments in case of income loss due to illness or injury.

You can claim as needed, and the claim can last for the entire term of the insurance policy, as long as you’re unable to work due to the illness or injury.

Yes, self-employed individuals can secure income protection, offering a tax-free monthly payout up to 65% of average income if illness or injury prevents working.

Income protection can offer payouts for mental health conditions, including anxiety and depression.

Having both covers enhances your financial safety net, providing a lump sum for critical illnesses and regular payouts for income loss due to health issues.

Policies may not cover all illnesses, especially pre-existing conditions or those your family has had. It’s essential to understand your policy’s limitations and conditions.

Factors include age, health, job risk, lifestyle, the waiting period before claims, and willingness to go back to work in different roles.

No, income protection is for medical-related income loss, not for unemployment due to redundancy.

You should consider getting income protection to ensure rent payments are manageable during periods of no work due to health issues.

Yes, you can adjust your coverage to align with salary changes, ensuring your benefits reflect your current income.