Insurance guides
How income protection differs from critical illness and PPI-style products, including waiting periods and proportion of income.
Features, cover levels, exclusions and prices vary by provider. Cover is subject to underwriting and terms. Quotes depend on personal or business circumstances. Always check the provider’s documentation before buying.
Income protection is designed to pay a regular benefit if you cannot work because of illness or injury, usually after a waiting period (deferred period). It is not the same as critical illness cover, which pays a lump sum against a listed condition, and it is not the same as historic payment-protection insurance sold with loans.
Policies typically cap the benefit as a proportion of income and set a deferred period of weeks or months. A longer wait can reduce the premium. Cover may pay until you return to work, reach a maximum term, or hit retirement age, depending on the contract. Own-occupation versus suited-occupation definitions change when a claim is paid.
Look at the definition of incapacity, exclusions for pre-existing conditions, whether the benefit is index-linked, and whether the policy is adviser-arranged or available direct. Some products in this category are sold through advisers. Always read the provider’s documents for the contract you are considering.
Guides explain how the product type works. Comparison pages show participating providers so you can request a personalised quote.