Sheffield Town Hall

Income Protection Insurance

Protect your most valuable asset - your ability to earn. Our income protection solutions provide financial security when illness or injury prevents you from working.

What is Income Protection Insurance?

Income protection insurance provides regular payments to replace part of your income if you're unable to work due to illness or injury. It continues to pay out until you can return to work, retire, or the policy term ends, providing long-term financial security when you need it most.

Income Replacement

Provides a regular monthly income, typically 50-70% of your gross salary, if you're unable to work due to illness or injury.

Long-Term Support

Continues to pay out for as long as you're unable to work, until you return to work, retire, or the policy term ends.

Financial Security

Benefit from private rooms, flexible visiting hours, and additional amenities that make your hospital stay more comfortable.

Why Income Protection Matters

Many people underestimate their risk of being unable to work due to illness or injury. Consider these facts:

  • • 1 in 4 people will experience a period of disability before retirement age
  • • The average UK household has less than £3,000 in savings
  • • Statutory Sick Pay is only £109.40 per week for up to 28 weeks
  • • Most employer sick pay schemes last for just 3-6 months
  • • The average mortgage payment in the UK is over £700 per month

Income protection provides a crucial financial safety net, ensuring you can maintain your standard of living and meet your financial obligations if you're unable to work due to illness or injury.

Benefits of Income Protection Insurance

Income protection insurance offers numerous advantages that can significantly improve your financial security and provide peace of mind for you and your family.

Financial Security

Ensures you can continue to pay your mortgage, bills, and other essential expenses if you're unable to work due to illness or injury.

Long-Term Protection

Unlike statutory sick pay or employer benefits, income protection can provide support for years or even until retirement age.

Protect Your Lifestyle

Helps maintain your standard of living and prevents you from having to deplete your savings or take on debt during periods of illness.

Flexible Coverage

Policies can be tailored to your specific needs, with options for different waiting periods, benefit periods, and additional features.


Tax Benefits

Benefits from personal income protection policies are typically paid tax-free, maximising the financial support you receive when you need it most.


Comprehensive Coverage

Covers a wide range of illnesses and injuries that might prevent you from working, including mental health conditions and stress-related issues.


Types of Income Protection Insurance

There are several types of income protection insurance available, each designed to meet different needs and circumstances. Understanding the options is the first step in choosing the right coverage for you.

Individual Income Protection

The most common type of income protection, designed for individuals to protect their personal income.

Best for: Primary income earners, those with dependents, people with mortgages or significant financial commitments

Group Income Protection

Provided by employers as an employee benefit, covering multiple employees under a single policy.

Best for: Employees, companies looking to enhance benefits packages, businesses of all sizes

Executive Income Protection

Designed for company directors and executives, paid for by the business as a business expense.

Best for: Company directors, business owners, high-level executives, partners in professional practices

Short-Term Income Protection

Provides coverage for a limited period, typically 1-5 years, rather than until retirement.

Best for: Those on a tighter budget, people with substantial emergency savings, individuals with other financial safety nets

Mortgage Payment Protection

Specifically designed to cover your mortgage payments if you're unable to work due to illness, injury, or redundancy.

Best for: Homeowners with mortgages, those concerned about meeting housing costs during periods of illness

Accident, Sickness & Unemployment Cover

Provides short-term coverage for inability to work due to accident, sickness, or involuntary unemployment.

Best for: Those seeking comprehensive protection against multiple risks, employees in industries with higher redundancy rates

Our Income Protection Process

Getting the right income protection coverage is a straightforward process when you work with our experienced advisors. Here's how we help you secure the protection you need:


  • Needs Assessment

    We'll help you determine what level of coverage you need based on your income, expenses, existing benefits, and specific concerns.

  • Coverage Calculation

    We'll calculate the appropriate coverage options considering your occupation, age, health, desired level of cover, and any additional benefits you might need.

  • Policy Research

    We'll research the market to identify the most suitable policies and providers based on your specific needs, occupation, health status, and budget.

  • Application and Underwriting

    We'll assist with the application process, including any medical questionnaires or examinations required by the insurer during underwriting.

  • Policy Setup

    Once approved, we'll ensure your policy is correctly established and that you understand exactly what is covered and how to make claims.

  • Regular Review

    We'll conduct periodic reviews to ensure your coverage remains aligned with your changing income, health needs, and circumstances.

Our Income Protection Process

Getting the right income protection coverage is a straightforward process when you work with our experienced advisers. Here's how we help you secure the protection you need:

Needs Assessment

We'll help you determine what level of coverage you need based on your income, expenses, existing benefits, and specific concerns.



Save for a Deposit

Most lenders require at least 5-10% of the property value as a deposit. Government schemes like Help to Buy and Lifetime ISAs can help boost your savings.

Coverage Calculation

We'll calculate the appropriate coverage options considering your occupation, age, health, desired level of cover, and any additional benefits you might need.


Get Mortgage Ready

Check your credit score, gather necessary documents, and understand your budget. We'll help you prepare for the mortgage application process.

Policy Research

We'll research the market to identify the most suitable policies and providers based on your specific needs, occupation, health status, and budget.

Find Your Dream Home

With a mortgage in principle, you can start viewing properties within your budget and make offers with confidence.

Application and Underwriting

We'll assist with the application process, including any medical questionnaires or examinations required by the insurer during underwriting.

Complete the Purchase

Once your offer is accepted, we'll guide you through the legal process, surveys, and final mortgage application to completion.

Policy Setup

Once approved, we'll ensure your policy is correctly established and that you understand exactly what is covered and how to make claims.


Move In

Congratulations! You've completed your purchase and can now move into your first home. We'll still be here for any future mortgage needs.

Regular Review

We'll conduct periodic reviews to ensure your coverage remains aligned with your changing health needs and circumstances.


Complete the Purchase

Once your offer is accepted, we'll guide you through the legal process, surveys, and final mortgage application to completion.

Frequently asked questions

Get answers to common questions about income protection insurance and how it can protect you and your family.
What is the difference between income protection and critical illness cover?
Income protection provides regular monthly payments if you're unable to work due to illness or injury, continuing until you can return to work, retire, or the policy ends. Critical illness cover pays out a one-time lump sum if you're diagnosed with a specific illness listed in the policy. Income protection covers a broader range of conditions that prevent you from working, while critical illness only covers specified serious conditions.
How much does income protection insurance cost?
The cost varies based on several factors: 1) Age: Premiums typically increase as you get older, 2) Occupation: Higher-risk jobs result in higher premiums, 3) Health: Pre-existing conditions may increase costs, 4) Smoking status: Smokers pay more than non-smokers, 5) Amount of cover: Higher benefit amounts cost more, 6) Deferred period: Longer waiting periods reduce premiums, 7) Policy term: Longer terms may cost more. Basic policies can start from around £20 per month for young, healthy individuals in low-risk occupations, while comprehensive coverage might cost £50 or more per month.
Do I need income protection if I have sick pay from my employer?
Employer sick pay is typically limited in duration, often lasting only 3-6 months. Income protection can provide financial security after your employer's sick pay ends. You can align your income protection deferred period with your employer's sick pay period to reduce premiums and ensure continuous financial support if you're unable to work long-term.
Can I claim income protection for stress or mental health issues?
Yes, most comprehensive income protection policies cover mental health conditions, including stress, anxiety, and depression, provided they prevent you from working. Mental health claims are among the most common for income protection policies. However, some budget policies may exclude or limit coverage for mental health conditions, so it's important to check the policy details.
Will my income protection premiums increase over time?
This depends on the type of premium you choose. Guaranteed premiums remain fixed throughout the policy term, providing certainty about future costs. Reviewable premiums start lower but are reviewed periodically (typically every 5 years) and may increase based on your age, the insurer's claims experience, and other factors. Age-related premiums increase each year as you get older.
Can I get income protection if I'm self-employed?
Yes, income protection is particularly important for self-employed individuals who don't have employer benefits to fall back on. Policies can be tailored to cover your specific occupation and income level. For self-employed people, income protection can cover a percentage of your net profit or drawings from the business. Some policies specifically designed for the self-employed may also include additional benefits like business expenses cover.

Protect Your Income and Financial Future

Don't leave your financial security to chance. Our expert advisers can help you find the right income protection insurance to ensure your financial stability if you're unable to work.


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