If you are unable to work due to illness, injury or unexpected unemployment, Income Protection insurance replaces a portion of your income. This type of cover can help to maintain financial stability while you are unable to earn a regular salary.
The amount paid out is typically up to 70% of your monthly income.
Income Protection is intended to cover your living expenses while you are out of work. It is especially useful for individuals who rely on their salary to meet their financial obligations.
Most policies cover illnesses and injuries that prevent you from working. Terms can range from a few months to several years. This can be set in line with any sick-pay received from your employer to maximise the length of cover.
This can be set in line with any employer-provided sick pay, helping to maximise your cover and reduce premiums. Payments continue until you return to work, retire or reach the end of the policy term.
