Income Protection

Arguably the most important type of insurance. If for whatever reason you’re unable to work whether it be due to illness or injury, Income Protection can provide a monthly income until you can get back to work giving you the peace of mind that your monthly outgoings can still be met.

Income protection is designed to cover upto 60% of your income and is paid on a monthly basis to replace loss of income. This can give you stability with your finances until you’re back on your feet and able to work again. The main difference with this type of protection in comparison to say Life Insurance or Critical Illness Cover is that it is paid in instalments as opposed to a cash lump sum.

The monthly benefit is usually paid only after a pre-agreed ‘deferred’ period meaning that the insurer will start paying you between 4 weeks and 52 weeks depending on the policy you’ve taken. There is a deferred period as you will likely be able to claim Statutory Sick Pay for a period of time.


How does income protection work?

A regular income is paid to you until you either become able to return to work, retire, pass away or the term ends. Usually upto 60% of your income paid to help you cover monthly commitments.

What's a deferred period?

With income protection you will not be able to claim the income benefit immediately due to a deferred period being put in place. This means the monthly benefit will not be paid for before a set period of time.

We will discuss with you how long this needs to be. We’ll assess whether you have any employers benefits, savings or help available from family.

Usually the longer the deferred period the cheaper the monthly premiums will be.  The deferred periods options are usually 4, 8, 13, 26, and 52 weeks.

How much will it cost?

As with all insurance products, the price of your monthly premiums depend on different variables such as general health, previous illnesses, smoking status, lifestyle, but also the level of cover you require.

We will run through a thorough budget planner to ensure you can comfortably afford your monthly premiums.

Find out how you can protect your loved ones

Find out more

Protection Services

Life Insurance

Giving your family a lump sum should you pass away or be diagnosed with a terminal illness.