Frequently Asked Questions
Why do I need income protection?
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. This is why income protection insurance is crucial.
By offering security when you need it most, income protection policies provide 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 the bills piling up.
How does income protection work?
Income protection policies insure your regular financial outgoings, usually up to 65% of your gross monthly income or £2,000, whichever is less. The main objective of this insurance is to provide you with a regular, tax-free income that will help cover your expenses.
One of the many benefits of income protection insurance is that you don't need a mortgage, loan or rent agreement to take out a policy. You're also free to use the money you receive however you choose, without any prior obligation.
Our interactive quote system searches the market and selects the product that is right for you. All you have to do is decide how much cover you would need to meet your financial commitments each month, should you lose your job, or be unable to work due to accident, injury or sickness.
Which type of cover do I need?
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.
How do I make a claim?
When you purchase an income protection policy, you will be asked to choose an excess period (also known as deferment or waiting period) – in other words, to decide when you would like your cover to start. Options range from back to day 1, which pays out in arrears from the first day of your claim, to higher excess periods of 30, 60, 90 or 120 days.
Choosing a higher excess period will lower the cost of your monthly premium, so this is a good option if you are confident that you can support yourself for the first 30 days or more.
Most income protection policies come with an Initial Exclusion Period (IEP), during which it is not possible to make a claim. Any claims made within this period will be invalid, so it's important to understand when the Initial Exclusion Period on your policy begins and ends. Best Income Protection policies have an Initial Exclusion Period of 90 days.
If you choose an Accident & Sickness only policy, the Initial Exclusion Period does not apply. Your claim will be valid straight away, provided you have been signed off work by a registered GP.
When you make a claim on your policy, the insurer will need to see proof of your income. This can be provided in the form of bank statements, P60 forms, or HMRC documentation. The insurer will also contact your employer to verify your employment status and the circumstances leading to your unemployment.
You will also need to be eligible for Job Seeker's Allowance and registered at a local Job Centre.
What is life insurance?
Life insurance provides financial protection for your loved ones when you die. It pays out a lump sum or regular income to your beneficiaries, helping them manage financially without you.
There are different types of life insurance including term life (coverage for a specific period), whole life (lifetime coverage), and critical illness cover (pays out if you're diagnosed with a serious condition).
What is health insurance?
Health insurance, also known as private medical insurance, covers the cost of private medical treatment for acute conditions that start after your policy begins. It gives you faster access to diagnosis, treatment and recovery.
Benefits typically include shorter waiting times, choice of consultant and hospital, private room, and access to treatments that may not be available on the NHS.
Which insurers do you work with?
We work with a comprehensive panel of trusted UK insurers including major providers like Aviva, Legal & General, Vitality, AIG, Zurich, Liverpool Victoria, Bright Grey, Aegon, and many more. This ensures you get access to the best coverage options at competitive prices.
How do I apply for a quote?
Simply complete our online form which takes just a few minutes. We'll instantly compare policies from multiple insurers and show you the best options for your needs. You can then apply directly online or speak to one of our advisors for more detailed guidance.
The process is completely free and there's no obligation to purchase. We're here to help you find the right protection at the right price.
Still have questions?
Our expert advisors are here to help you understand your options and find the right coverage.