Income Protection

Is Income Protection Worth It?

When illness or injury strikes, income protection can be the safety net that keeps your finances stable. It’s especially valuable if you’re self-employed, don’t receive sick pay, or only get Statutory Sick Pay (SSP), which is currently just £116.75 a week.

What Is Income Protection (IP)?

Income protection pays you a percentage of your income—typically 60–70% of your gross salary—after a chosen deferred period (from 1 week to 12 months). Payments continue monthly until you return to work or your policy ends, helping cover essentials like your mortgage and bills, giving you peace of mind to focus on recovery.

Benefits of Income Protection

• Guaranteed monthly income during illness or injury
• Pays out with a valid sick note
• Special terms for public sector workers
• Choose between 1, 2, 5 year or full-term cover
• Multiple claims allowed

Other Options

Accident & Sickness Benefit

A short-term option that doesn’t require medical underwriting. Pays for up to 3 months at £720, £1,500, or £2,500 per month—ideal if long-term IP isn’t available to you.

Family Income Benefit (FIB)

Instead of a lump sum, FIB pays a monthly income to your family if you pass away or are diagnosed with a terminal illness during the policy term—helping them manage living costs, mortgage, and childcare. The only downside: the payout period reduces the later in the term the claim is made.

Is It Right for You?

If you’d struggle financially without your income, especially for several months, income protection could be a financial lifeline—not a luxury.