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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
Man in a leg cast on the sofa with his wife

Level income protection cover

Level cover means that the amount of cover you choose is fixed when your policy starts and doesn't change.

  • If you choose guaranteed premiums, the premiums you pay will also remain the same.
  • If you choose reviewable premiums we'll work out the premium you need to pay based on a number of assumptions. We then review these assumptions on an on-going basis, and if we need to change our assumptions then we will look at the premium you pay to see if this also needs to change.
  • Please be aware if you choose level cover it won't keep up with inflation and may buy you less in the future.

How much cover can I have?

  • The most cover you can have is 60% of your annual earned income before tax. This does not include any income from savings or investments.
  • The minimum amount of cover you can apply for is £100 a month. The maximum amount of cover you can apply for is £12,500 a month.
  • If you own a limited company then your income* can also include dividend income from your business as long as:
  • the dividend income is clearly related to your work activities.
  • the frequency of dividend payments must be of an established pattern, rather than irregular one-off payments.
  • the dividends are paid from annual profits net of tax. If the dividends are higher than the profit figure, we will use the net profit figure instead.

* Your income can also include dividends paid to your spouse or civil partner as long as they are also a shareholder, and they don't take over the running of the business. Any dividends paid to your spouse or civil partner must be appropriate for their level of shareholding, and must have been declared for tax purposes. However, if your spouse or civil partner has used the same dividend income for their own income protection cover, it can't also be included in your income.

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 - 5pm Monday to Friday

For existing customers call:

Green phone

0800 678 1906

8.30am - 6.30pm Monday to 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?

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.

Which product is right for you?

Why choose LV=

An insurance provider you can trust established in 1843.

  • 90% of new claims paid in 2016
  • 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 Income Protection advice