Income Protection

Income Protection

What is it?
Income protection is an insurance policy. If you find yourself unable to work due to illness or an injury, Income Protection insurance will provide a pay out to cover your loss of income. It usually pays out until you can return to work, you retire or until you pass away. Short term income protection policies are also available, lasting for one to two years and costing less. 
Please be aware that neither policy will pay out if you are made redundant. 
Income Protection usually pays out 50% - 70% of your earnings although it can vary depending on your insurer. The payments are also free from income tax meaning you get the full percentage of your income.

Should you apply?
Your job plays a big role in how much you will pay for an Income Protection policy, so that is something to take into consideration. Insurers divide jobs into risk groups – the riskier the job, the more you will likely need to claim and the higher the costs will be. High risk jobs tend to be professions in the labour industry/heavy manual workers such as construction workers or mechanics. 
Your health and whether you smoke, along with the level of cover you need will also affect the costs so make sure you are looking at the right policy for you.


Ultimately, Income Protection is designed to support you and your family in a difficult time. It comes with costs but it is worth doing, particularly if you work in a high-risk job. 


If you need more information about deciding whether this is the right policy for you, contact us at View Finance today on 0333 320 8658 or e-mail us at [email protected] and speak to one of our experienced advisors.

AS A MORTGAGE IS SECURED AGAINST YOUR HOME OR PROPERTY, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS.  THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. View Finance Ltd is an Appointed Representative of Finance Advice Group Ltd, which is authorised and regulated by the Financial Conduct Authority under number 624517 in respect of mortgage, insurance and consumer credit mediation activities only. The Financial Conduct Authority does not regulate some form of mortgages and loans, including most types of Buy to let mortgages and also Limited Company lending. The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK. Registered office address: 42 Friar Gate, Derby, DE1 1DA. Registered in England and Wales, company number 11265177.

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