What Is Income Protection?

What is income protection, and would it ever pay off for you? Let's take two minutes to find out.

First, a quick note. This is general information, not financial advice.

Meet Rachel. She rents a flat, covers her own bills, and has a job she relies on.

Every month, the rent and the bills come out of one income, hers.

But what if an illness or injury stopped her working? A bad back, a long illness, months off to recover.

Her employer's sick pay might help for a while. Then it runs out, and the bills keep coming.

Between sick pay ending and getting back to work, there's a gap.

And for most people, that gap is far wider than they realise.

This is what income protection is for. It replaces part of your income, paid as a regular sum while you can't work.

The moment your pay stops, it steps in, and the essentials keep getting paid.

Keep a roof over your head,

cover the everyday bills,

month after month, for as long as you need it.

It's easy to confuse with critical illness cover, which pays a single lump sum.

Income protection pays a regular income instead, for as long as you're unable to work.

But it isn't right for everyone. If your employer pays generous sick pay for a long time, you may already be well covered.

If you've enough savings to live on for months, cover may add less.

And always check what you've already got before adding more.

So the real question is how much income you'd need, and for how long. Get in touch, and let's work it out together.