Do you need income protection insurance?

Protection insurance is wise in uncertain times

Thousands of people are unable to earn money or generate income through no fault of their own. This can make it difficult to cover expenses, especially in difficult times.

LV= Income Protection can help protect your income and make sure you have money when you need it most. Income protection insurance can give you a regular income and peace of mind if you can't work due to accident or sickness.

Things to consider with income protection insurance 

 Before you take out income protection insurance, you need to consider:

1. if you can repay any of your debts from savings, you reduce the income protection insurance needed
2. whether another insurance policy, such as health insurance, already covers some of your income
3. how long you can manage on your savings after becoming unable to work before you need to claim on your income protection insurance
4. how long you want the income protection insurance to last
5. what percentage of your income you want to be covered
6. whether you get income protection insurance cover for pre-existing conditions

It's also really important to make sure you read the policy literature to make sure you're able to apply, and understand what you're covered for.

Let LV= help secure your income with income protection insurance

Here's what you can get with the LV= Income Protection Plan:

• protection against loss of income through accident or sickness
• regular payments while you're unable to work
• help maintain your standard of living
• insurance up to 55% of gross earned income
• choice of guaranteed or reviewable premiums
• choice of income protection cover: level or inflation-linked
• cover available until you're 70 (depending on your occupation)
• no limit on number of claims
• premiums start at £5 a month

Next steps