Income Protection Insurance

Income protection insurance replaces a percentage of your income (typically 50–70%) if you are unable to work due to illness or injury.. Unlike critical illness cover, it pays out for any condition that prevents you from working — not just a specified list. The deferred period (how long before payments start — typically 1, 3 or 6 months) and the definition of incapacity (own occupation vs any occupation) significantly affect the cost and value of the cover.