Income Protection

If you’re unable to work and your income is affected, then you need peace of mind that you can pay any monthly financial commitments like the mortgage, bills and life expenses you may have. This is even more important when you have a partner/spouse or family.

We can guide you through the process, letting you choose policies to match your individual needs, budget and circumstances.

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Accident & Sickness

I want peace of mind I can pay the bills if I have an accident or get sick.

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Unemployment

I want peace of mind I can pay the bills if I lose my job.

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Accident & sickness
Unemployment
Accident, sickness & unemployment

Accident & sickness Cover

Paying the bills is tricky at the best of times, but accidents, sickness or unemployment can have grave financial consequences without the right insurance to protect against it.

If you can’t work for as little as 30 days due to accident or sickness, income insurance can provide a regular monthly payment for 1 or 2 years, with the option of back to day one cover.

In such volatile times, it’s a good idea for both the employed and self-employed to have a policy that offers financial protection for 12 or 24 months.

*monthly premiums must be maintained

You are eligible

You are eligible for cover under the policy if you are:

Aged over 18 and under 64

Not unemployed in the 12 months before the start date of this policy

Full-time employment or self-employment for at least 6 continuous months

Live or work in the UK, Channel Islands or Isle of Man

Unaware of any circumstances which may result in you making a claim under this policy

Working on a fixed-term contract for at least 24 continuous months, immediately prior to the start date

In paid work for at least 16 hours a week

Unemployment Cover

Paying the bills is tricky at the best of times, but accidents, sickness or unemployment can have grave financial consequences without the right insurance to protect against it.

If you are made unemployed, income insurance can provide a regular monthly payment for 1 or 2 years, with the option of back to day one cover. It typically pays out up to 65% of your income.

In such volatile times, it’s a good idea for both the employed and self-employed to have a policy that offers financial protection for 12 months.

*monthly premiums must be maintained

You are eligible

You are eligible for cover under the policy if you are:
Aged over 18 and under 64

Not unemployed in the 12 months before the start date of this policy

Full-time employment or self-employment for at least 6 continuous months

Live or work in the UK, Channel Islands or Isle of Man

Unaware of any circumstances which may result in you making a claim under this policy

Working on a fixed-term contract for at least 24 continuous months, immediately prior to the start date

In paid work for at least 16 hours a week

Company or employer that is not in administration or has not announced formally or informally that it is going into administration, receivership or liquidation

Not received formal or informal notification that your own job is at risk

Employer that has not formally announced its intention to make job cuts or made any mandatory reductions to basic salaries or contractual working hours to the workforce at their location of work

Combined Accident, sickness & unemployment Cover

Paying the bills is tricky at the best of times, but accidents, sickness or unemployment can have grave financial consequences without the right insurance to protect against it.

If you are made unemployed or can’t work for as little as 30 days due to accident or sickness, income insurance can provide a regular monthly payment for 1 or 2 years, with the option of back to day one cover.

In such volatile times, it’s a good idea for both the employed and self-employed to have a policy that offers financial protection for 12 months.

*monthly premiums must be maintained

You are eligible

You are eligible for cover under the policy if you are:
Aged over 18 and under 64

Not unemployed in the 12 months before the start date of this policy

Full-time employment or self-employment for at least 6 continuous months

Live or work in the UK, Channel Islands or Isle of Man

Unaware of any circumstances which may result in you making a claim under this policy

Working on a fixed-term contract for at least 24 continuous months, immediately prior to the start date

In paid work for at least 16 hours a week

Company or employer that is not in administration or has not announced formally or informally that it is going into administration, receivership or liquidation

Not received formal or informal notification that your own job is at risk

Employer that has not formally announced its intention to make job cuts or made any mandatory reductions to basic salaries or contractual working hours to the workforce at their location of work

Still Struggling?

Our explanation video may help you better understand how we can help.

Some Questions?

1. What payments are made?

You could receive up to

  • £2,000 a month
  • 65 percent of gross monthly income

Depending on how much you pay for your policy, you could receive up to £2,000 a month or 65 percent of gross, whichever is lower. Gross monthly income is the average monthly salary before tax, including any commission and/or bonus payments received (if in full-time employment), or the monthly average of your income as declared on the self- assessment return for the previous tax year as confirmed by HMRC (if self-employed).

2. How long do I have to wait for payment?

You can choose from a number of different ‘qualification period’ options. This is the number of consecutive days from being unable to work until the monthly benefit begins:

  • Back to day 1
  • 30 day excess
  • 60 day excess
  • 90 day excess
  • 180 day excess
3. How much does it cost?

We have access to policies to suit all budgets, but the decision is usually based on your outgoings. It’s sensible to make sure that main outgoings are protected.

4. What else is covered?

If you choose unemployment cover as part of your policy and you are made redundant, you will be entitled to free back-to-work support.

5. Does the Government help?

The government do offer assistance, but the amount can be alarmingly low and won’t last long.

For example, a single person over 25 is only entitled to £73.10 of Jobseeker’s Allowance each week, the standard rate for statutory sick pay is just £88.45 a week (paid to a maximum of 28 weeks) and Employment and Support Allowance for a single person over 25 suffering illness or disability starts at just £73.10 a week.

If you’re taking out a new mortgage or re-mortgage, you are unlikely to receive any assistance with your mortgage repayments for the first 9 months of your claim. Moreover, the payment of state benefit only applies to mortgage interest payments up to a maximum loan of £200,000, or on a loan of £100,000 if receiving pension credit. It does not cover capital repayments, or any other related costs such as the premiums paid on a life insurance policy or savings plan linked to a mortgage.*

*Based on Paymentshield’s understanding of the current state benefit system.

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