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Income Protection

Provides a regular income if you're unable to work because of accident or sickness.

  • Pays out if you're too ill to work because of an accident of sickness
  • Gives you monthly payments so you can continue to pay your bills when your income stops
  • Available as comprehensive or budget cover
  • Now includes fracture cover, death benefit and more...
Man in a leg cast on the sofa with his wife

Why you might take out our income protection policy

Our Income Protection cover is designed to help you cope if you lose your income as a result of sickness or an accident.

It pays you a monthly income, to help replace some of your lost earnings (up to a maximum of 60% of your annual income before tax), and helps you and your family cope financially if you couldn't work. You can choose from the types of Income Protection to meet your needs.

We also offer Budget Income Protection cover, which only pays out for a maximum of 24 months for each claim, but keeps your monthly premiums lower.

Cover features

  • We'll pay out if you can't do your job because of an accident or sickness for as long as you need it or until the policy ends.
  • Pays a regular income to help replace some of your lost earnings.
  • Fracture cover at no extra cost (lump sum payment up to £2,200, depending on the type of fracture).
  • Contractual death benefit (fixed lump sum payment up to £10,000).
  • Payment of premium during involuntary unemployment for up to 6 months.
  • You can spend the money on essentials or luxuries.
  • Simple and easy claims process.
  • Prices start from £5 a month.
  • Back to work support available.
  • Career break option available.
  • Guaranteed or reviewable premiums.
  • Level or inflation-linked cover.
  • Special features for doctors and surgeons.
  • Sick pay guarantee (for certain occupations).
  • Cheaper budget cover also available.
  • Member benefits.

Important information

  • With Budget Income Protection, the regular monthly income will be paid for a maximum of 24 months (we will pay multiple claims).
  • If you've been unemployed for longer than 12 months when you claim, we'll only pay out if you can't prepare a meal or do basic housework.
  • Reviewable premiums do not change within the first 5 years of your policy starting, but after that they could change every year.
  • Minimum cover of £100 a month.
  • Maximum cover of £12,500 a month.
  • If you stop paying premiums you won't get any money back and you'll no longer be covered.
  • If you choose level cover please bear in mind that the amount you're covered for won't go up in the future, so you'll be able to buy less with it in the future, compared to today.
  • We'll only pay for one fracture diagnosed within a 12 month period and certain fractures aren't covered.
  • The death benefit proceeds may form part of your estate which will be subject to inheritance tax.
  • Both the fracture cover and death benefit payments are fixed and won't increase with inflation.

How to buy our income protection?

All we ask is that you permanently live in the UK and have lived here and are registered with a UK GP for at least the last 2 years, you're aged 17 to 59 and your income protection cover costs at least £5 a month (as this is the minimum premium). Your policy must last for at least 5 years (our minimum term).

  1. Please make sure you read the details about our income protection product and the Policy Summary.
  2. Consider how much cover you need and the length of time you need the cover for.
  3. Phone one of our friendly members of staff on 0800 756 8523 to find out more information and get a quote.
  4. The information given in these pages should not be seen as advice to take out this plan so if you're happy that the product meets your needs you can apply over the phone.

You will need to be employed, self-employed, or a homemaker to take out cover. If you're retired or unemployed (this includes claiming Jobseekers Allowance) we won't be able to offer you cover.

If you're not sure if this product is right for you, you can speak to a financial adviser. We advise on LV= products only.

You can phone us

Call our UK-based advisers for more information or a quote:

Green phone

0800 756 8523
Quoting offer code IELO

9am - 7pm Monday to Thursday
9am - 5pm Friday

For existing customers call:

Green phone

0800 678 1906

9am - 8pm Monday to Thursday
9am - 5pm Friday

TextDirect first dial 18001

We may record and / or monitor calls for training and audit purposes.

We offer advice on LV= products only.

Existing customer?

A real life story

Paul shares his experience with us.

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Are you an existing customer?

Make a claim

Useful information about making a new claim or finding out about an existing one.

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More on Income Protection clams

Membership services

Free access to qualified health, legal and counselling professionals.

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More on our Member Care Line

Make changes

Check or change policy details like your name, address, direct debit, request policy documents or put your policy in trust.

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Understand life cover

We've created lots of useful information to guide you through the process of finding which life insurance product is right for you.

Find out more

Why choose LV=

An insurance provider you can trust established in 1843.

  • 92% of new claims paid in 2015
  • UK's largest friendly society

Policy documents

  • Key features
  • Our services
View policy documents

Get advice

Speak to one of our advisers who can make sure you have the right cover for your needs.

Get some advice

LV=, County Gates, Bournemouth, BH1 2NF, UK