Protect your income, protect your lifestyle
Most people insure their home, car and possessions — but their income is often left exposed. Income Protection helps replace a portion of your earnings if illness or injury stops you from working, giving you peace of mind that your bills can still be covered.
What is Income Protection?
Income Protection is designed to pay you a regular monthly income if illness or injury prevents you from working — helping you maintain your lifestyle while you recover.
It replaces part of your income
If you’re unable to work due to illness or injury, Income Protection can pay a percentage of your usual earnings, typically up to around 60–65%.
It pays out for as long as needed
Unlike short-term policies, Income Protection can continue paying until you return to work, retire, or reach the end of your chosen policy term.
It supports everyday living
Payments are designed to help cover regular commitments such as your mortgage, rent, household bills, food shopping and other day-to-day costs.
Who is Income Protection for?
Income Protection isn’t about planning for the worst — it’s about being prepared for the everyday situations that could temporarily stop you working.
Self-employed & business owners
When there’s no employer sick pay and your income depends entirely on your ability to work.
Homeowners & renters
If your income is needed to cover mortgage payments, rent, bills and household costs.
Families & dependants
When others rely on your earnings to keep life running smoothly.
Employed professionals
Especially if your employer sick pay is limited or only lasts a short time.
How does Income Protection work?
Income Protection is flexible and built around your circumstances. These are the key moving parts we’ll help you think through.
Monthly benefit
If you’re unable to work due to illness or injury, the policy pays a regular monthly income — typically up to around 60–65% of your gross earnings.
Ongoing payout
Payments can continue until you’re able to return to work, or until you reach the end of your chosen policy term, depending on how your cover is set up.
Waiting periods
You choose when payments start — often after 4, 8 or 13 weeks — usually aligned with employer sick pay or personal savings.
Multiple claims
Claims can usually be made more than once while the policy is in force, provided the terms and medical definitions are met.
Flexible terms
Cover can run to a set age, often aligned with your mortgage term or planned retirement age.
Income Protection FAQs
Income Protection is a type of insurance that pays a regular income if you’re unable to work due to illness or injury. It’s designed to help cover essential costs like your mortgage, rent, bills and everyday living expenses while you recover.
You can choose how long the cover pays out—anything from 1 or 2 years to right up until retirement age, depending on the policy. The longer the benefit period, the more comprehensive the cover.
Payments start after a waiting period (also called a deferred period), which you choose at application stage. This is often aligned with employer sick pay or savings.
Yes, Income Protection is especially important if you're self-employed, as you won’t receive Statutory Sick Pay or any employer benefits. It can provide a financial safety net if you’re unable to work. The way income is assessed can differ, so advice is especially valuable here.
The cost depends on factors such as your age, occupation, health, the level of cover chosen and the waiting period. A good rule of thumb is to budget around 3–5% of your monthly income, but we’ll find options that suit your circumstances.
Talk to us about Income Protection
Income Protection isn’t about ticking a box or choosing a policy from a list. It’s about understanding how your income works, what support you’d realistically have if you couldn’t work, and deciding whether protection makes sense for you.
We’re happy to talk it through — no pressure, no jargon — and help you understand your options, including any limitations or exclusions that might apply.
Helping Clients in Broadstairs, Thanet & Beyond
We’re proud to support clients across Kent—from Broadstairs, Margate and Ramsgate to Canterbury, Herne Bay and further afield. Wherever you are in your property and financial journey, we’re here to help.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
IMPORTANT: With investments, your capital is at risk. Pensions and investments can go down in value as well as up, so you could get back less than you invest.
Need Financial Planning Ltd is registered in England and Wales no. 10901658. Registered office, 123 High Street, Broadstairs, Kent, CT10 1NQ. Authorised and regulated by the Financial Conduct Authority. Need Financial Planning Ltd is entered on the Financial Services Register https://register.fca.org.uk/ under reference 977136. If you wish to register a complaint, please write to [email protected] or telephone 01843 228800. A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 0234 567.
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