Income Protection

Income Protection

Working with the UK’s largest underwriters

"No commission. No fees. No worries when you buy online."

Why choose Cover + Protect?

  • Discounted Income Protection premiums
  • No Fee and all commission used to lower the premiums when you buy online
  • Over the phone we aim to beat any like-for-like quote, we’ll never charge a fee and only receive minimal commission to ensure you pay less
  • Policies underwritten by the likes of AIG, The Exeter & Zurich

Also known as PHI (Permanent Health Insurance), the Income protection we offer is designed to cover loss of income due to unexpected illness or injury.  

These policies are not designed to protect you against unemployment or redundancy. 

According to the Association of British Insurers (ABI), around one million people in employment, each year find themselves unable to work due to injury or serious illness.

If an unexpected injury or illness overcomes you, the last thing you want to be worrying about is paying the bills if you’re unable to work. Income protection ensures a specified amount of income will continue, while you recover. This is perhaps particularly beneficial if you are self-employed, or if your company offer limited sick pay.

We have decades of experience as insurance distributors, both on and offline, to ensure you get the right plan to suit your needs. While the site offers cover on an ‘execution basis’ only, meaning you’re making the decisions as to which policy is suitable, we’re happy to assist of there are any aspects which are unclear.

Premiums are affected by the usual factors: your age, occupation, whether you smoke or have smoked in the past and your health, as well as the percentage of your income that you’d like to cover and until what age.

When considering your options, the Cover + Protect team can help you assess the amount of debt you hold, whether that be mortgage payments or credit card debt, as well as any monthly expenses, how many dependents you have, your potential need to cover such things as childcare and your living costs.

Income protection also allows for a period of time to pass before payments start, this is referred to as the ‘deferment period’ – as generally many people will initially receive sick pay. So, the longer you wait to receive payment, the lower the cost of your monthly premium.

As we heavily discount the income protection we offer, you can save a large amount of money using a discount broker like us, especially over the term of any policy. 

Income protection pays out until you can start working again in your original occupation. Usually it pays up to 60% of your gross salary as a tax-free amount each month until either you are fit to return to work, retire, or until death. While a policy is in-force, it is possible to claim multiple times.

If you’re in employment, your company benefits may well include a set amount of sick-pay. Income insurance, depending on the premium cost, can cover a suitable monthly income to cover costs such as, living expenses and mortgage payments, as well as secondary debts and loans.

It’s important to note that while income protection pays out until age 70 if necessary, it does not cover death itself and most income protection policies do not include cover for redundancy or being made unemployed by your company.

The key differences between these products are:

Income protection covers your income while you are unable to work due to illness or injury and is paid on a monthly basis, designed to replace your income (most insurers will cover till 70 years of age).

Critical illness cover provides a one-off tax-free lump sum if you are diagnosed with a serious, specific illness (listed in providers Key Features Documents). 

Working with the UK’s largest underwriters

Send us a message.

Let us know if you have any queries, require advice or have a known medical condition you’d like covered.

Speak to us.

We’re at the end of the phone if you’d prefer to talk through any queries you may have.

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