- Mon - Sun: 8:00am - 8:00pm
Relax, our advice is completely free
You carefully manage your money, pay your mortgage or rent, and cover the bills. But what’s the single most important asset that pays for everything? Your ability to earn an income.
If you woke up tomorrow and couldn’t work due to an accident, illness, or injury, how long would your savings last? A month? Three months? What would happen when the money ran out?
Maybe you’ve thought about it and hoped it wouldn’t happen. Perhaps you rely on vague ideas: “The government will help,” or “My employer offers good sick pay.” But when you actually look into the reality, you discover the safety net is far thinner and more complex than you ever imagined.
It’s overwhelming, isn’t it? You just want a simple, reliable answer: If I become seriously ill or injured, how do I keep the money coming in to pay my bills and protect my family’s lifestyle?
The problem is that without proper Income Protection, an unexpected illness or injury creates a personal financial nightmare. Statutory Sick Pay (SSP) is minimal and lasts only 28 weeks.
Most employer sick pay stops after 3 to 6 months.
Some people think Critical Illness cover is the same. It’s not. Critical Illness pays a lump sum for specific major illnesses; Income Protection pays a regular monthly income if you can’t work due to any illness, accident, or injury.
We set up Income Protection Insurance that provides a reliable, tax-free monthly income if you are unable to work due to illness or injury. It replaces a significant portion of your salary until you recover or retire, protecting your entire financial future.
We’ll help you:
Calculate the right level of cover to protect your essential outgoings (up to around 65% of your gross salary).
Determine the ideal deferral period (starting from 1 month) to align with your employer’s sick pay and your personal savings.
Select the best definition of “incapacity ensuring the policy pays out if you can’t do your own job, not just any job.
Review your policy regularly as your income, mortgage, or financial situation changes.
We’ll explain every variable in plain English, ensuring you understand exactly what you are covered for and making sure you are genuinely protected when it matters most.
Yes, you can have more than one income protection insurance policy, but the total benefit across all policies cannot exceed about 65% of your gross income. This prevents over-insurance.
Reviewable premiums can be adjusted by the insurance company at review times, while guaranteed premiums stay fixed. Reviewable policies tend to start cheaper but carry uncertainty about future costs.
Also called the deferred period, this is how long you must be unable to work before your income protection insurance starts paying. Common waiting period options are 1, 3, 6, or 12 months. Matching this to your employer sick pay period optimises your protection insurance.
No, the monthly income you receive from personal income protection insurance is tax-free. This is a major advantage if you insure for 65% of gross income, the tax-free benefit often matches your normal take-home pay.
Unless you have substantial savings that could replace your income for several years, income protection insurance is still valuable. Even modest illness lasting 12-18 months could exhaust most people’s savings. The insurance provides long-term financial support beyond what most savings can offer.
Review your income protection insurance at least every 2-3 years, or whenever you have significant life changes like:
Regular reviews ensure your protection coverage keeps pace with your changing needs.
Standard income protection insurance exclusions include:
Always read your insurance policy documentation carefully and discuss any concerns with your adviser to understand exactly what protection insurance coverage you have.
Your income protection insurance pays throughout your illness or injury, up to the policy’s end date (typically retirement age) or until you can return to work. Unlike employer sick pay which stops after weeks or months, income protection provides long-term financial support.
This extended benefit period is what makes income protection insurance so valuable. Whether your illness lasts 6 months or 6 years, the insurance continues paying your monthly income, providing crucial long-term financial protection.
Your income protection insurance usually continues regardless of job changes, as it’s a personal insurance policy not linked to employment. However, notify your insurance provider of significant occupation changes, as moving to a higher-risk job might affect premiums or coverage.
If your income increases substantially, you might need additional protection insurance to maintain adequate coverage. Regular policy reviews ensure your income protection keeps pace with your career and income growth.
Yes, though terms vary. Some health conditions may be excluded from your income protection cover, or you might pay higher premiums. However, many people with managed health conditions can still get valuable protection insurance.
Disclosing all health information is essential. Non-disclosure could invalidate your insurance claim when you need it most. Specialist protection insurance brokers can find policies that offer the best terms for your specific health situation.
Income protection insurance is vital protection for:
Self-Employed Professionals and Business Owners: Without employer sick pay, your business and personal income stops when you can't work. Income protection insurance ensures your monthly income continues, allowing you to focus on health recovery without financial stress.
Employed Individuals: Even with employer health benefits, sick pay usually runs out after 3-6 months. Income protection insurance provides ongoing support beyond standard employment benefits.
Parents and Family Providers: If your income supports dependents, protection insurance ensures they maintain their lifestyle even during extended illness or injury.
Mortgage Holders: Your mortgage doesn't stop during illness. Income protection insurance ensures you can continue making payments.
Please call us using the telephone numbers below. Alternatively please use the contact form and we will get back to you as soon as possible.
