Income Protection
An Income Protection plan provides a regular income if you’re unable to work because of illness or an accident. It helps replace your earnings for as long as you’re unable to return to work, continuing until you recover or until the policy ends—usually at your normal retirement age.
- Regular Income Replacement
- Covers Essential Bills
- Long-Term Support
- Flexible Cover Options
The Importance of Income Protection
Financial Security
It helps you manage essential expenses such as your mortgage or rent, utility bills, groceries, and living costs, financial support even when you’re unable to work.
Peace of Mind
Knowing you’re financially protected can ease the pressure during recovery and help you focus on restoring your health.
Long-Term Support
Income protection can offer long-term financial support, possibly continuing until retirement if you’re unable to work again.
Flexible Coverage
You can customise your policy to fit your personal needs by choosing the waiting period, benefit amount, and payment duration that best align with your situation.
Documents Required for Income Protection
To process your mortgage application smoothly, you will need to provide several documents. These may vary depending on your employment status and personal circumstances
Personal & Policy Information
Policy number and identification (passport, driving license, or ID card).
Contact details for you and, if employed, your employer.
Proof of Earnings
Employees: Recent payslips, P60, or P11D forms.
Self-employed / Directors: Latest tax returns, company accounts, or profit & loss statements.
Confirms your income to calculate the benefit.
Medical Evidence
Letter or report from your GP or specialist explaining your incapacity
Medical reports, referrals, or test results supporting your inability to work
Mortgage Information
Details of your mortgage, including monthly payments and outstanding balance
Shows the relevance of your policy to mortgage obligations
Additional Supporting Documents
Employer confirmation of incapacity (for employees)
Evidence of business activity and income (for self-employed)
Any other documents proving you cannot work
Things to Consider
Cover Amount & Term
Match cover to your mortgage and bills; choose short- or long-term payout.
Deferred Period
Time before payments start (e.g., 4–26 weeks); longer wait = lower cost
Type of Cover
Own occupation (most flexible) vs. any/suited occupation
Premium Type
Guaranteed (fixed), reviewable (changes), or age-banded (rises yearly)
Existing Benefits
Check employer sick pay or other protection plans
Exclusions
Know what’s not covered, like pre-existing conditions or redundancy
Find Out Answers Here
This type of policy is suitable for anyone who is working, whether employed or self-employed. It’s important to remember that most employer sick pay only lasts for a limited period, typically up to twelve months, so having continued protection is vital. These plans can be tailored to complement any existing cover you already have. As experienced advisers, we can help you choose the option that best meets your individual needs.
The cost of Income Protection Insurance in the UK varies from person to person because it’s based on several key factors related to your age, health, job type, lifestyle, and the level of cover you choose. In simple terms, the more risk the insurer takes on, the higher your premium will be.
If you recover and return to work, your income protection payments stop, but your policy remains active so you can claim again in the future if needed.