Plan around the income your household relies on
Income protection is designed to replace part of your earnings through regular payments if illness or injury prevents you working under the policy’s definition. Claims are subject to insurer terms, eligibility and evidence; it is not a promise to replace your full salary.
When would payments begin?
The deferred period is the agreed wait before benefits become payable. Consider it alongside employer sick pay and accessible savings, so you understand how you would manage before a qualifying payment starts.
How long could benefits last?
Check both the overall policy term and the maximum payment period for a claim. Some arrangements limit each claim to a shorter period. A benefit is not automatically payable until retirement.
- How does the policy define being unable to work?
- What earnings can be insured and how are benefits assessed at claim?
- What waiting period, exclusions and payment limits apply?
- Can premiums or benefits change, and how is existing cover taken into account?
Employees and self-employed people
Employees should check their sick-pay arrangements. If you are self-employed, discuss how income is evidenced and what happens to business and personal commitments when you cannot work. Occupation and working arrangements are relevant to the assessment.
A review of your whole position
Bring an outline of essential spending, savings, employer benefits and existing insurance. We can discuss the gap you want to plan for, the cover’s limitations and an affordable premium. Do not cancel existing insurance before understanding any replacement terms.
General information, not a personal recommendation. Cover, premiums and claims depend on insurer assessment, policy terms, limitations and exclusions.