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The different Income Protection options available

Although the concept of income protection is simple, there are various types of product in the market:

Traditional Income Protection - for clients in less risky jobs

Think office workers or professional occupations (such as accountants) where the risk of occupational injury or illness is low. The price doesn’t increase with age and the insurance keeps paying out until your client is well enough to go back to work – no matter how long it takes.

This is our standard Income Protection.

Specialist Income Protection – for clients in riskier jobs

Aimed at clients in riskier jobs who are more expensive to insure, like construction workers, nurses & the self-employed. The price increases with age (‘age-banded’ or ‘age-costed’ premiums) making it more affordable for many clients.

This is our Personal Sick Pay.


Cover options

Level Income Protection cover

  • The amount of cover is fixed and won't change
  • It won't keep up with inflation and will buy less in the future

Inflation-linked Income Protection cover

  • Our approach to indexation is fair and transparent: the amount of cover and premium go up (each year) in line with inflation
  • We use the Retail Prices Index (RPI)

Budget Income Protection

  • The maximum claim period is 24 months and your client's policy will continue (we won't cancel it after a claim has been paid unless you're a homemaker)
  • Premiums can be up to 50% cheaper than full Income Protection

Types of premiums

Guaranteed premiums

  • Your client's premium is fixed and won't change unless they choose inflation-linked cover
  • If inflation-linked cover is chosen then the amount of cover and premium will go up in line with inflation (RPI)

Reviewable premiums

  • The premiums won't change for the first five years and then they can be reviewed every year, based on a number of assumptions
  • Once we've reviewed a premium we guarantee we won't change it again for 12 months

Connect with us

About protection

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FOR UK FINANCIAL ADVISERS ONLY
LV=, County Gates, Bournemouth, BH1 2NF, UK