cover
Income Protection
Income Protection with The Mortgage Experts
At The Mortgage Experts, we understand how vital your income is to maintaining your lifestyle and meeting essential financial commitments such as mortgage payments or rent. If illness, injury or an accident prevents you from working, Income Protection could provide the financial support you need.
What is Income Protection?
Income Protection is a long-term insurance policy designed to provide a regular income if you are unable to work due to ill health or injury. Payments continue until you are well enough to return to work, reach retirement, or the policy term ends—whichever comes first.
Why is Income Protection Important?
Many employers do not offer comprehensive sick pay schemes. Where sick pay is provided, it is often limited, commonly offering full pay for three months, followed by half pay for another three months, before payments stop entirely.
In the UK, Statutory Sick Pay (SSP) is currently £116.75 per week (as of January 2024), and is paid by your employer for up to 28 weeks. For most individuals, this amount is simply not enough to cover essential living costs, such as mortgage repayments, bills, and groceries.
Without Income Protection, a prolonged absence from work can lead to financial stress, missed payments, and a decline in both mental and physical wellbeing.
What if You’re Self-Employed?
If you are self-employed, you are not eligible for SSP. This makes Income Protection even more crucial. At The Mortgage Experts, our specialist advisers work with a wide panel of insurers to find the most suitable Income Protection cover for your individual needs.
We provide clear, tailored advice and are here to answer all your questions regarding Income Protection insurance.
Speak to Our Income Protection Experts
Still have questions? Browse our Frequently Asked Questions below or speak directly with one of our expert advisers. At The Mortgage Experts, we’re here to help you protect your income and your future.
Income Protection FAQs
How does Income Protection work?
Income Protection pays a regular income if you are unable to work due to illness or injury. Payments are made until you recover, reach retirement, pass away, or the policy expires. You can claim multiple times while the policy is active.
There is usually a ‘deferred period’ a waiting period before the payments begin. Common deferred periods include 4, 8, 13, 26 or 52 weeks.
How much of my income can be covered?
Does Income Protection include any additional benefits?
Yes. Many policies include extra benefits such as:
- Trauma lump sum payments
- In-hospital cash benefits
- Physiotherapy and rehabilitation support
- Mental health counselling
- Return-to-work programmes
- Family and fracture cover
These features are designed to support your recovery and ease the transition back into the workplace.
Can I get Income Protection if I’m self-employed?
