Income Protection Insurance

Each year nearly a million people in the UK find themselves unable to work due to a serious illness or injury. If you couldn’t work due to a serious illness, how would you manage? Could you survive on savings, or on sick pay from work? If not, you’ll need some other way to keep paying the bills – and you might want to consider income protection insurance.


What is It?


Pays you a percentage of your salary if you are unable to work due to illness, injury, or involuntary redundancy.


How Does It Work?


You will receive monthly, tax-free payments after you have been unable to work due to illness or injury, for a set period of time. Usually 3 or 6 months. Cover lasts for the period you choose, i.e. until your mortgage is paid or your pension is due to start. Payments stop when you are able to return to work, retire, or the policy ends.


Can You Claim More Than Once?


Yes. You can make as many claims as you need during the policy.


Why Might I Need It?


State benefits for those unable to work are low. If you would struggle to cope with between £70 and £100 per week, you should consider Income Protection insurance.



There is a limit to the amount of income you can claim – usually half your take home pay. Make sure you don’t pay for more cover than you can claim. There might be exclusions on when you can start claiming - usually you wait 4 weeks, but it will be set out in your policy. 


Contact us to request a quote.


Looking for Life Insurance or Critical Illness Insurance instead?


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"Money in Person" is a trading style of Medics Financial Services Limited who are Authorised and Regulated by the Financial Conduct Authority. We are entered on the Financial Services Register No 131216 at Registered in England and Wales No. 1723058 Registered Address: Tamworth Enterprise Centre, Corporation Street, Tamworth, B79 7DN