Income Protection

Could your client pay the bills if they were sick or had an accident? Help your clients protect their family with Income Protection from LV=.

Income Protection is designed to pay a regular income if your clients are unable to work due to long term sickness or an accident.

You can cover your client for up to 55% of their annual income before tax.

When we come to pay a claim we'll take off other payments your client may be receiving, such as payments from other Income Protection policies or any other sickness or accident insurance. We'll also take off a proportion of any income your client is still getting from their work.

Cover options

Single life only, but you can have Income Protection for another life in the same plan.
Level or inflation-linked cover
Guaranteed or reviewable premiums.
You can set up additional cover to be added once other payments your client may be getting stop.
A budget option which will be cheaper, but only pays out for a maximum of 24 months for each claim.
Optional Waiver of Premium.
Can be taken out on life of another basis.

Other features

Unemployment and career breaks

Your client will still be covered if they are unemployed at the start of the claim, although the amount of cover will be limited to £1,500 a month (plus any inflation linked increases if they've chosen inflation-linked cover).

Your client can ask us to reduce their cover while they are out of work (which will also reduce their premiums). If they return to work within 24 months we'll be able to reinstate the cover.

Full details are in the Income Protection Policy Conditions.

Back to work support

We want to help your clients get back to work, so we’ll provide financial support for them to help towards the cost of back to work support services or advice. This will be available where we believe your client has a valid income protection claim and that the support or advice would help them return to work.

Guaranteed Increase Options

Your client can increase the amount of cover within certain limits. The events which are covered by our Guaranteed Increase Options are:

marriage or civil partnership
childbirth or legal adoption of a child
basic salary increases of more than 10%
mortgage increase if moving home or making improvements

Full details are in the Income Protection Policy Conditions.

Important things you should know

Please bear in mind that this protection plan has no cash-in value at any time.
If your client stops paying your premiums, their cover may cease.
If your client chooses level cover, it is fixed when your plan starts, and doesn’t change. This means it won’t keep up with inflation and is likely to buy less in the future.

Find out if your client is eligible for Income Protection

Why Income Protection from LV=?

Find out about the occupations we cover