Income Protection

What Is Income Protection Insurance?

Person using a laptop on a bed with a cup of coffee nearby.

Income Protection Insurance provides regular payments if you're unable to work due to illness or injury. Unlike critical illness cover, which offers a lump sum for specific conditions, income protection ensures ongoing financial support, helping you manage everyday expenses until you're fit to return to work.

Why Do You Need Income Protection?

Losing your income due to unforeseen circumstances can be financially devastating. Income Protection Insurance helps you:

  • Cover essential living costs, including rent or mortgage payments.

  • Maintain your standard of living while recovering.

  • Avoid relying solely on savings during prolonged illness.

  • Support your family with consistent financial stability.

Types of Income Protection Policies

Different policies offer varying levels of coverage:

  • Short-Term Income Protection – Provides payments for a fixed period (e.g., 1-2 years) while you recover.

  • Long-Term Income Protection – Covers you until you reach retirement or return to work, offering more comprehensive security.

Consider the following when selecting an Income Protection plan:

  • A woman sitting at a table using a laptop while holding a baby in her arms.

    Coverage Level:

    Choose a policy that replaces a significant portion of your salary (typically 50-70%).

  • A young man and woman sit on a yellow couch in a cozy living room, watching TV together. The man has dark hair and a beard, and is wearing a beige t-shirt. The woman has light brown hair and is dressed in a white top with a gray sweater draped over her shoulders.

    Payment Duration:

    Decide how long you'd need financial support if you were unable to work.

  • A woman with curly hair, lying in bed with eyes closed and a content smile, resting on white pillows and sheets.

    Deferred Period:

    Policies often have a specified length of time that you need to be off work for before payments start—longer waiting periods can reduce premium costs.

  • A young woman sitting on a tan couch, reading a book and holding a glass of water, with a gray sweater draped over her shoulders and wearing light-colored pants.

    Premium Costs:

    Compare providers to find the best value for your budget.

Get In Touch

Protecting your income means protecting your future. Explore Income Protection Insurance today and ensure financial stability in times of uncertainty.

Our expert advisers can explore the whole of the market for you, to build the right policy with the right insurer for you. Please do get in touch

What our clients have to say

  • Donny from MSP was superb at helping me.

    Donny from MSP was superb at helping me get my initial mortgage as a first time buyer. He spent time guiding me through the process and answering all of my questions.

    When it came time to remortgage I knew I was in safe hands with Donny. He helped explain all the range of different options available and their respective pros and cons. Most importantly though, he helped me to lock in the best rate a few months prior to my remortgage date. With subsequent market movements it was great to have piece of mind that we had locked in early.

    I would have no hesitation in using Donny and MSP Financial again! Thanks again Donny!

  • I’ve always been impressed

    Chris Sykes at MSP Financial has handled all my mortgages over the years, and I’ve always been impressed by his professionalism and attention to detail. He doesn’t just find a deal and leave it there, he keeps an eye on things and always lets me know if there’s a rate drop or a better option available. Where other brokers might miss those opportunities, Chris makes sure I never do. He’s clear, thorough, and genuinely has your best interests at heart. Absolutely worth the fee for the level of service and peace of mind he provides.