What would you do if you had to stop working because of illness or incapacity? Would you or your partner have the ability to cover your household expenses? Income protection insurance helps to alleviate this worry.
This protection pays you an agreed monthly income if you are unable to work because of sickness, disability, or incapacity. Depending on the level of cover this payment will last until you return to paid work, or you reach retirement age.
Typically you will get between half and two thirds of your earnings before tax. You will also have to wait at least 4 weeks or a month before you can make a claim.