Income Protection Insurance

If you suddenly lost your job, or were unable to work due to an accident, injury or sickness, how would you support yourself? Would you be able to pay your bills and cover all your monthly outgoings? Most people could survive for a month or two, but beyond that, would be at risk of getting into debt or even losing their home. 

Income protection offers security when you need it most by providing the financial support needed to help you get back to work as soon as possible. With up to 12 monthly benefit payments available per claim, you won’t have to worry about how you will pay the bills.

Income protection falls into 3 categories, Unemployment/Redundancy cover, Accident and Long Term Sickness or a combined policy for all 3.

Unemployment Insurance:

Unemployment Insurance covers you if you unexpectedly lose your job due to involuntary redundancy. To be eligible for this type of insurance, you must be aged between 18 and 64; a permanent UK resident; have been working for the same employer for more than 6 consecutive months; and working full-time (more than 16 hours per week). When taking out a policy, you must not be aware of any impending unemployment or restructuring in your place of work, and must not be subject to any disciplinary investigations or procedures.

Accident & Sickness Insurance:

Accident & sickness insurance policies provide cover if you are unable to work due to an unexpected injury or illness. It is important to note that you cannot claim for any pre-existing conditions suffered in the 12 months prior to making a claim. Unlike unemployment insurance, accident & sickness policies do not have an Initial Exclusion Period (IEP). This means that a claim will be valid immediately (subject to your chosen excess period), as long as you have been signed off work by a registered GP.

Accident, Sickness & Unemployment Insurance:

This is the most comprehensive type of cover, providing protection against unexpected unemployment through involuntary redundancy, accident, injury or illness.