Income Protection Insurance

 What is income protection insurance?

Income Protection is a type of insurance which helps replace the income you’d lose if you couldn’t work because of an illness or injury.  We naturally insure all those things important to us, such as our home, car and even pets, so it makes sense to protect the thing that pays for it all, you and your income.

It is recommended that everyone of working age should consider taking an Income Protection policy, because regardless of how well and healthy you feel today, ill health or an injury can happen to anyone, at any time, and if it does then it can be tough to cope financially, as the bills will continue coming in.

In short, Income Protection works when you are can’t.

What income protection products cover self-employed workers in the UK?

Income protection can cover both employed and self-employed people in the UK, as long as you’re working a minimum of 16 hours per week.  It does not cover redundancy or if you are unemployed (or working less than 16 hours per week)

How income protection works

	If you can’t work because of an illness or injury, Income Protection will pay you money each month to help replace your loss in earnings. You will need to decide how long you wait before the policy starts paying out (this is known as the deferred / waiting period).
	The policy will keep paying out until you can return to work – no matter how long it takes.
	Protecting your income is especially important if you have family or other people who rely on it. If you lost your income, what would happen to the lifestyle you all currently enjoy?
	If you become too ill to do your job, the policy will start paying you an amount of money each month, straight into your bank account, simple as that.

Get in touch with the Insurance Helpline today, for professional and impartial advice to find out if income protection cover is right for you.