Income Protection
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Frequently Asked Questions
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While critical illness cover pays a lump sum if you’re diagnosed with a specific serious illness, income protection provides an ongoing income if you’re unable to work due to illness or injury, regardless of the condition. It’s designed to support you until you’re able to return to work or retire.
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Income protection insurance typically pays out after a waiting period, known as the "deferred period," which can range from a few weeks to several months. This period is the time you need to wait before your benefits kick in, allowing you to use any sick pay or savings in the meantime. The longer the deferred period, the lower your premium may be.
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Most policies allow you to protect up to 50%-70% of your regular income. You can choose how long the policy will pay out, from a set term (e.g., one or two years) to the end of your working life. We can help you tailor a policy to suit your needs and budget.
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