Income protection is an insurance policy paying benefits to the policyholder who is unable to work due to an illness or accident. The policy pays out weekly or monthly.

The amount of cover required is based on an approximate level of spending for an individual or family. The state provides a very low benefit; therefore an income protection policy supplies an income to cover those financial commitments such as mortgage, food, utility bills and travel.

Most providers determine a benefit as a percentage to the total annual income i.e. 70% of £25,000; the provider will offer £17,500. Providers could offer less or more pending their own criteria. Please speak to one of our advisers for more information

A deferred or a waiting period is assigned with the policy I.e. 4 weeks or 13 weeks (an individual sick pay received by employers can determine the deferred period).

Advantages of Income protection in comparison to Accident Sickness Unemployment policy:

  • The maximum benefit is likely to be higher
  • The benefit is generally payable for a much longer period
  • Income protection is usually cheaper

Long term sickness is something we prefer not to think about; but every year more than 600,000 men aged 40-64 are absent from work for more than 6 months; some enter financial hardship. Please speak to one of our advisers for more information.

We do any mortgage Ltd have access to the whole market for insurance. We We do any mortgage Ltd are agents with Aviva, Aegon, Friends Life, Legal and General, Zurich. We can source the best insurance products at the best prices and could save you time and money. Speak to one of our insurance advisers for a quote. We are based in Vale Of Glamorgan, call us if you need further advice.