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You will benefit from income protection if you:
Have regular financial commitments – Mortgage payments, rent, car finance, and household bills don't pause because you're ill. Income protection ensures you can keep meeting these obligations.
Are self-employed or freelance – You won't receive statutory sick pay or employer sick pay. If you're not working, you're not earning—income protection changes that equation.
Have limited sick pay from your employer – Many employers offer just a few weeks of full pay, then reduced pay, then nothing. With many employers offering no sick pay at all, leaving you to rely on statutory sick pay alone. Income protection takes over when workplace benefits run out.
Support dependents – If your family relies on your income, a long-term illness affects everyone in your household, not just you. Income protection keeps household finances stable while you focus on recovery.
Work in a physically demanding job – Tradespeople, healthcare workers, and manual labourers face higher risks of injuries that prevent work. Income protection is particularly valuable if your job depends on physical capability when your employer cannot move you to a job to adapt to your situation.
Have specialist skills – Some policies offer "own occupation" cover, paying out if you can't do your specific job even if you could technically do other work. This matters if you're a surgeon who can't operate, a pilot who can't fly, or a tradesperson who can't lift.
You choose your cover level
Most policies pay between 60% and 76% of your gross income. Insurers offer products that cap payouts from 12 months, 24 months, 60 months or full term cover (paying you until the end of the policy).
You choose your waiting period
This is the time between stopping work and receiving your first payment. Common options are 4 weeks, 8 weeks, 13 weeks, or 26 weeks. Longer waiting periods mean lower premiums—if you have savings or employer sick pay to cover the initial weeks, a longer deferral period can make cover more affordable whilst ensuring you have no gap in income.
You choose your policy term
Cover can run until a specific age (we suggest your anticipated retirement age to give you cover for your entire working life) or for a fixed number of years. Aligning your policy with your expected retirement age ensures protection throughout your working life.
You pay regular premiums
Monthly payments keep your policy active. Costs depend on your age, health, occupation, smoking status, the level of cover, and your chosen waiting period.
If you can't work, you claim
You provide a sick note from your Dr. Once the waiting period passes, monthly payments begin.
Payments continue until you recover
Unlike critical illness cover, income protection can pay out multiple times throughout your policy if you have separate periods of illness. Payments stop when you return to work, reach retirement age, or the policy ends.
The gap between your expenses and your existing support is what income protection needs to cover.
Example: A Hull professional earning £3,500 per month with essential expenses of £2,200:
Income Protection vs Other Protection Insurance
People often confuse income protection with other types of cover. Here's how they differ:
Income protection vs critical illness cover
Critical illness pays a one-off lump sum if you're diagnosed with a specific serious condition on the policy's list. Income protection pays a regular monthly income if you can't work due to any illness or injury—including conditions like depression, chronic pain, or recovery from surgery that wouldn't trigger a critical illness claim.
Many people benefit from having both: critical illness cover for major diagnoses (to clear a mortgage or fund treatment) and income protection for ongoing living expenses during any period of incapacity.
Income protection vs life insurance
Life insurance pays out when you die. Income protection pays out while you're alive but unable to work. They protect against different risks and serve different purposes. Life insurance pays out a tax free lump sum on your death and income protection pays a tax free sum each month for a period of time.
Occupation-specific expertise
We understand how different jobs affect cover options and can find policies from insurers who specialise in your specific occupation.
Local knowledge
We know Hull, we know the industries people work in locally, and we understand the financial pressures families here face.
Thorough policy comparison
We examine definitions, exclusions, waiting periods, and claims processes so you know exactly what you're buying.
Flexible appointments
Available for a face to face or phone appointment at a time that suits you.
Plain English advice
No jargon, no pressure. Just clear explanations so you can decide what's right for you.
Frequently Asked Questions
Q: How much does income protection cost?
Premiums vary based on your age, health, occupation, smoking status, the level of cover, your chosen waiting period, and how long the policy runs. A 35-year-old office worker might pay £25–£50 per month for a policy replacing £1,500 of monthly income with a 4-week waiting period. Manual workers or those in higher-risk occupations will typically pay more. The only way to get an accurate figure is to get a personalised quote.
Q: Can I get income protection if I'm self-employed?
Absolutely, income protection is arguably more important for self-employed people since you don't have employer sick pay to fall back on. You'll need to provide evidence of your income, typically through tax returns or accountant statements. Insurers usually base cover on your average earnings over the previous one to three years.
Q: Does income protection cover mental health conditions?
Most policies do cover mental health conditions that prevent you from working, including depression, anxiety, and stress-related illness. Mental health claims have become more common and are generally handled similarly to physical conditions.
Q: Can I claim more than once on the same income protection policy?
Yes. Unlike critical illness cover, income protection allows multiple claims throughout the policy term. If you recover and return to work, then later become unable to work again due to a different (or even the same) condition, you can make another claim. Each typically has its own waiting period depending on how your policy is set up, but income protection claims are unlimited.
Q: Will income protection pay out if I'm made redundant?
No. Income protection covers inability to work due to illness or injury, not job loss. If you're concerned about redundancy, you'd need separate redundancy insurance.
Q: Does my employer's sick pay mean I don't need income protection?
It depends how long your employer's sick pay lasts. Many employers offer full pay for just a few weeks, then reduced pay, then nothing. Once that runs out, you're reliant on Statutory Sick Pay (£118.75 per week) or your savings. Income protection can be set up with a waiting period that aligns with when your employer's sick pay ends—so you're covered seamlessly when workplace benefits stop. Plus if you ever leave that job you leave that benefit beyond so best advice is to take out your own personal sick pay policy.
Q: Can I get income protection with pre-existing health conditions?
Often, yes. You'll need to declare your medical history during the application. The insurer may exclude your existing condition from cover, increase premiums, or in some cases decline the application. Specialist insurers work with people who have complex medical histories. Our independent insurance advisors in Hull can help you find appropriate options.
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