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Income Protection

Our products - Income Protection

Income protection* is typically used to cover clients in less risky, office-based or professional occupations. With income protection your client will receive a monthly benefit of up to 60% of their income**, if they’re unable to work due to sickness or injury.

This is paid until they’re well enough to be able to go back to work, or until their claim period ends if they have a lower level of cover.

Income Protection has many unique features including:

  • Parent and child cover
  • Rehab support services
  • Fracture cover
  • Death benefit

For more detail take a look at the full list of features

*To apply, your client needs to be a UK resident and registered with a GP for two years or longer.

**Up to a maximum of £250,000 a year (£20,833 a month) for level cover and £175,000 a year (£14,583 a month) for inflation-linked cover.

Cover options

Our Income Protection product has a number of options to suit your client's needs, as shown below:

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Level Cover

A fixed amount of cover that won't change and won't keep up with inflation.

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Inflation-Linked Cover

The amount of cover will go up in line with inflation (each year). The premium goes up by inflation multiplied by 1.5.

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Budget Income Protection

More affordable for clients with a shorter claim period of either 12 months (with guaranteed premiums) or 24 months (guaranteed or reviewable premiums).

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Premiums

Choose between guaranteed or reviewable premiums based on your client's circumstances and needs.

For a full list of options take a look at our technical summary

Types of premium

Guaranteed premiums
  1. Your client's premium is fixed and won't change unless they choose inflation-linked cover
  2. If inflation-linked cover is chosen then the amount of will go up in line with inflation (RPI), and the premium goes up by inflation multiplied by 1.5
Reviewable premiums
  1. The premiums won't change for the first five years and then they can be reviewed every year, based on a number of assumptions
  2. Once we've reviewed a premium we guarantee we won't change it again for 12 months

Income Protection for Medical Professionals

Our Income Protection includes a number of features designed with doctors, surgeons and dentists in mind.

Read more about Income Protection cover for medical professions

Key Documents

Online Services

Risk Reality Calculator

Highlight to your clients why financial protection is important using industry statistics in our Risk Reality Calculator.

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Flexible Protection Plan

Why not add Life cover or Critical Illness to your client's plan for a wider protection portfolio?

More about Flexible Protection Plan

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Tools and Calculators

Everything you need to support your Income Protection recommendations.

Income Protection tools and support

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Personal Sick Pay

Income protection for clients in riskier jobs who can be more expensive to insure.

More on Personal Sick Pay

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Large Case Team

If your client wants cover for more than £5,000 a month, we can offer dedicated support.

More about our Large Case Team

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