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Income Protection
Ensure your income, home, and family are safeguarded in the event of illness or injury.
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What is Income Protection Insurance?
Income protection insurance provides a vital safety net if you’re unable to work due to illness or injury. It allows you to focus on your recovery while ensuring you have a steady income to manage your financial commitments.
Regular Payments:
Offers consistent income through regular instalments to help cover your living expenses.
Long-Term Support:
Payments continue until you’re able to return to work, reach retirement, or in the event of death.
Suitable for Everyone:
Available for both employed and self-employed individuals.
Financial Security:
Provides peace of mind for homeowners, ensuring you can keep up with mortgage payments even when you’re not working.
If you’re thinking about income protection insurance or want to check your eligibility, speaking with a qualified advisor can help you find the best policy for your needs.
How does Income Protection work with Alexanders FA?
At Alexanders FA, we simplify securing income protection insurance, offering expert guidance to ensure you have the right coverage in place.
As an award-winning broker, we provide free advice tailored to your needs, helping you safeguard your financial stability in the event that you’re unable to work due to illness or injury.
1
Free Initial Consultation
We’ll assess your current financial situation and protection needs, helping you determine the level of income protection cover required to maintain your lifestyle if you become unable to work.
2
Personalised Income Protection Recommendations
An AIP provides an estimate of your borrowing power. With this in hand, you can confidently explore properties within your budget and make informed offers.
3
Ongoing Support and Guidance
Once your income protection is in place, we continue to support you, ensuring your cover remains aligned with any changes in your health, life circumstances, or needs.
Why Consider Income Protection?
For many, mortgage payments are one of the biggest monthly expenses. If you’re unable to work due to illness or injury, the last thing you want to worry about is how to cover these costs. Income protection insurance provides peace of mind, ensuring your financial commitments are met while you focus on recovery.
Cost Factors
Premiums are based on factors like your age, health, job, and the level of coverage you choose—similar to how car insurance works, with higher risks leading to higher costs.
Impact of Your Job
Your occupation plays a role in pricing. Jobs with higher risks may come with slightly higher premiums.
Income Replacement
Policies typically pay out between 50% to 70% of your salary, tax-free, helping you maintain financial stability while you recover.
Flexible Coverage
Whether you need short-term protection or a long-term safety net, there are policies to suit different needs and budgets.
Choosing the right income protection policy is key to ensuring you’re covered when it matters most.
FAQ: Income Protection
The answers to your questions.
What is income protection insurance?
Income protection insurance is designed to provide a steady income if you are unable to work due to illness or injury. It offers a substantial portion of your salary until you are able to return to work, retire, or the policy term concludes. If you own a home and have a mortgage, this type of insurance is strongly recommended to ensure you can continue making your mortgage payments each month.
How much does Income Protection insurance cost in the UK?
The cost will vary depending on your age, health, occupation and how much of your income you would like to protect. Premiums can also vary. One of our expert advisors will be able to recommend the right type of income protection for your budget and situation.
What does an Income Protection policy cover?
Income protection policies typically cover 50–70% of your gross salary tax-free. They protect against a broad range of medical conditions and injuries that prevent you from working. Be sure to review the AJL of your policy to understand the specific coverage provided.
What is the difference between Income Protection and Life Insurance?
Income protection provides you a regular income if you are ill and cannot work, whereas life insurance will pay a lump sum to your beneficiaries upon your death.
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A Genuine Five-Star Experience.
We wouldn’t be where we are without our incredible clients. We take pride in building genuine, one-on-one relationships, offering tailored mortgage advice that suits each individual’s needs.
Jasmine Brown
Allen Whittell
