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Income pretection Specialists

Income protection insurance (also known as permanent health insurance) is a type of insurance that provides you with a regular income if you're unable to work due to illness or injury. It can help you cover your essential expenses, such as your mortgage or rent, while you're unable to work.

There are two main types of income protection insurance:

  • Short-term income protection: This type of insurance typically provides cover for up to 12 months. It's a good option if you're worried about being unable to work for a short period of time, such as if you have a temporary illness or injury.
  • Long-term income protection: This type of insurance can provide cover for up to 20 years or until you reach retirement age. It's a good option if you're worried about being unable to work for a long period of time, such as if you have a serious illness or disability.

When you take out an income protection insurance policy, you'll need to decide how much cover you need. This will depend on your income, your expenses, and your financial goals. You'll also need to choose a waiting period. This is the period of time that you'll need to be off work before your policy will start paying out.

How does income protection work?

  • Income protection provides payments to give you peace of mind if you’re unable to work due to illness or injury.
  • It won’t match your pre-sickness pay exactly. The payments cover a percentage of your income. The amount varies but is often around 50-70% of your gross earnings.
  • To receive payments there’s often a waiting period built into the policy called a deferred period. This is the amount of time you should be off sick before it begins. It could be a few days, weeks, or even several months. It’s worth bearing in mind that the longer the waiting period, the less income protection will cost each month.
  • If you’re covered, payments continue till you go back to work up to the end of a set amount of time. Often the set period is around 1, 2 or 5 years or ideally all the way until you reach retirement age.
  • Income protection is a way of giving you financial security if you suffer from an unforeseen illness or injury. Covering your everyday expenses and outgoings while you’re off sick helps you recover without the added stress of financial pressure.
  • The cost of income protection depends on an assortment of different elements. Typically, these include your age, overall health, occupation, and the level of payments you’re looking for. Compare policies until you find one with the kind of coverage and affordability you need.

How much coverage will you get?

  • If your income covers your living expenses, it’s a good idea to think about income protection insurance. Whether you’re an employee or self-employed, it’s worth looking into.
  • And if you’ve got dependents and/or regular loans to service like a mortage, credit card, or car loan, income protection can provide financial support in these areas if you fall ill.
  • Consider finding a deal that covers your basic living expenses in terms of rent or mortgage payments, payments, utilities etc.
  • When you’re working out how much you need, don’t forget to include any other income or financial support you might have. This could be things like sick leave, universal credit, or savings.
  • Depending on which policy you choose, income protection can provide around 50-70% of your income. Having said that, there are policies offering various levels of cover – and it’s up to you to decide what you might need if you fall ill.
  • One of our advisors can talk through the amount of cover you might need. They can help you figure out your particular needs and identify the right level of cover for you so that you’re able to protect your financial security.


  • The main benefit of income protection is a level of financial safety if you’re sick or injured and cannot work.
  • By covering your main expenses, you can focus on your health and wellbeing.
  • Income protection can cover you for an illness or injury that stops you working, whether your health issue is related to your work or not.
  • Different types of income protection can have added benefits too. Some might have a lump sum payment if you’re diagnosed with a terminal illness. And some can give you financial help to retrain or any other costs related to returning to the workplace.
  • Because different policies have different types of waiting periods, payment periods, and levels of cover, make sure you choose a policy to suit both your budget and your needs.
  • Some policies can be tax-deductible, and this could be a more affordable option.
  • In the end, with careful consideration, income protection can provide a helpful financial safety net for anyone who is working.


  • First of all, think about your individual needs and financial obligations.
  • Next, look carefully at the amount of coverage you could reasonably use to cover you main outgoings.
  • Also, take into account what other sources of income you could be eligible for if you were to take time off sick.
  • Then make sure you get good advice. Not all policies are equal in terms of levels of coverage and waiting periods –balance the features with your overall budget.
  • Go over the terms and conditions carefully. One of our advisors can help you do this so that you’re sure you understand what is and isn’t covered by the policy.
  • Take into account the cost and including any additional fees or charges – for example — cancellation fees.
  • When comparing policies, notice things like flexible features and consider whether they might be a good fit for your needs. For instance, you might be able to adjust the waiting or benefit period. There might also be the option to add in additional benefits like death benefit or critical illness cover.
  • Getting advice from someone who can discuss all your options is also a good idea. Our advisors are happy to help you work through and find a policy that’s right for you.
  • And don’t forget, once you’ve taken out your policy, it’s a good idea to review it regularly and consider whether you’d like to update it if your situations changes.

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Here at House and Holiday Home Mortgages, we’ve helped many people find the right insurance for their needs and lifestyle. If you’d like to find out how we can help you, get in touch.


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