Income Protection Cover
Providing a financial safety net
Income Protection Cover
Income Protection Cover is an insurance policy designed to pay you a regular monthly income if you're unable to work due to illness or injury.
It ensures that you can continue to pay your essential living costs, like your mortgage, rent, bills, and daily expenses - giving you financial stability while you recover.
Unlike Critical Illness Cover (which pays a one-off lump sum for specific conditions), Income Protection can continue to pay out until you’re well enough to return to work, or until the end of the policy term.
Could You Maintain Your Lifestyle if Your Income Stopped Tomorrow?
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Who Is Income Protection Cover for?
Employed
Although employment often includes benefits like company sick pay, this support usually lasts no longer than 12 months and may not fully cover your income if you’re unable to work due to illness or injury.
Maintaining ongoing financial security is crucial - It ensures peace of mind knowing that if the unexpected happens, you won’t have to struggle financially.
Self-Employed
If you're self-employed, your income stops when you stop working - there’s no employer sick pay or safety net to fall back on.
That’s where Income Protection becomes essential.
It provides a monthly income if you can’t work due to illness or injury, helping you cover, Mortgage Payments, Rent, Household Bills, Daily Living Costs & Family Responsibilities.
Without Income Protection, a period of illness could mean financial strain or even losing your home or business. For self-employed individuals, it’s not a luxury - it’s a smart financial safeguard.
Essential Tips for Finding the Right Income Protection Policy…
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Typically a policy will pay out between 60-65% of your gross income, though this can vary between providers. It’s important to ensure that you have the right level of cover in place to correctly protect your income.
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This the period you must wait after becoming ill or injured before you can start receiving payments. Deferred periods can range from a few weeks to several months.
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This refers to how long you will receive payments for. It could be for a fixed term like 1, 2, or 5 years or until you reach a certain age (such as 68)
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The cost of an income protection policy varies based on factors like your age, occupation, the level of coverage, and the deferred period.
It’s important to keep the cost of the cover within your budget but also keeping it balanced to being suitable should you need to claim.
How We Can Help You
Kingsbrook Finance
This cover ensures financial stability in case you're unable to work due to unforeseen health issues.
As advisers we are here to help tailor the policy to best fit your requirements to ensure you are correctly covered.
