How does Income Protection Work?

You can get cover based on a percentage of your take home pay and the policy will pay out if you are unable to work.

There are many variations available, which means you can tailor the policy to suit your circumstances. You can also take into account any state benefits you will receive plus any sick pay provided by your employer to ensure you are not paying for cover you do not need.

You can apply for cover whether you are employed or self-employed. If you are employed it is important to consider how much your employer will pay you if you are off sick for any reason, or how much you might receive if you are made redundant. If you are self-employed it is important to consider what you would do if you suffer any ill health or injury – do you have savings available or will you quickly run out of money?

Common questions

Many people wrongly assume they will be covered by the state if they are off work for an extended period. While there are various forms of state benefit available, state benefits are not available to everyone and the amount you receive is likely to be a small percentage of your current income. Also state benefits can be changed at any time, so while you might be happy with the amount you could receive today you do not know what rules will be in place should you ever be off work for an extended period of time.

One of our advisers can review your circumstances and your budget and recommend the type of cover which best suits your circumstances. They will also select the most appropriate provider and guide you through the application process.

You don’t need to pay us a fee for advice about insurance. This is because if you take out a policy we will receive a commission from the insurance company.