Care Financials

Income Protection Insurance

Income Protection Insurance

Are you struggling to go to work due to an illness or injury? Are you worried that you won’t be able to earn for your family due to your health constraint? Many people go through illnesses or injuries that prevent them from being able to go to work, and this can affect their overall income and standard of life. But don’t worry, we have a solution for you. 

An income protection insurance, also known as ‘permanent health insurance, is a cover that guarantees you monthly payments if you cannot work for any health reason. The income protection cover pays a percentage of your original income for you to settle your everyday expenditures and focus on getting better than fussing about going to work. 

This insurance will continue to compensate you until you get back on your feet and can go to work again or until your retire. There are other subtypes of this insurance, such as the Critical Illness and Living Cost protection cover. It will help if you compare all your insurance choices before determining which one to buy; this is where Care Financial Services can assist you.

At Care Financial Services, we ensure that our specialist financial advisors are well informed about all the various types of insurance attainable in the market. We take this step to validate that our experts can help you with whatever circumstance you may be facing and find the most accurate solution in the form of a perfect insurance plan. Call us now, and let’s start by moving forward toward a brighter recovery journey for you. 

Benefits of Income Protection Insurance

Income protection insurance is a group of insurance products that allow you to continue to meet your day-to-day financial expenses even if you have to take time off work due to any medical issue that was not your fault. 

For many people having to leave their job due to physical illness can pose a severe financial issue. Loss of financial courses can affect one’s lifestyle and standard of living; this is where the income protection cover comes in and provides you with a monthly income without going to work. This insurance provides tax-free financial help to ensure monetary stability. 

The income protection cover has a few different policies covering numerous healthcare areas. Hence, every case is treated individually, and the policies for this insurance may be unique for each person. The cost of this cover can also vary depending on factors such as age, your job, the amount you earn, and what percentage of your earnings will be put towards health expenses. The term of the claim depends on the payments you make each month. Nevertheless, once you have everything in order, you can claim whenever you desire.

Your insurance coverage will be valid till you start going back to work again or until you retire. It is important to remember that if you unexpectedly fall sick, you can not claim your insurance payment right away. 

The procedure of claiming requires a holdup of 4- weeks which is known as the ‘waiting period’, and you can start making your payment after two weeks of leaving your job; because you don’t need to have money right away as many jobs provide paid sick leave for up to 28- weeks. Another essential factor of income protection insurance is that the amount you can claim may not be the same as what you initially would earn while working. This insurance policy can claim up to half or two-thirds of your income. You may not receive your exact income amount, as the government provides state benefits you can take advantage of, along with tax-free insurance payments.

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How Can Care Financial Services Help?

As you can see, there are a lot of factors to consider when deciding whether or not you should go forward with an income protection cover- can you deal with your household expenses if you have to leave your job unexpectedly? Which policy can you afford? Are your savings or sick leave payments enough to run your household? 

It can be quite a dilemma thinking about such things- that is where Care Financial Services can be of assistance. We have a team of professionals, so you don’t have to worry about anything. Our specialists will discuss every detail of your case with you to understand your circumstances more effectively. This discussion would further give us access to your needs and expectations from your cover, helping us give you the most accurate and personalised advice to help you with your next step forward. Our team will only call you if you cannot come for a physical meeting. So could you pick up the phone, give us a call and let’s find you the ideal insurance cover 

Frequently Ask Questions

If you have a question that deals with clients, customers or the public in general, there is bound to be a need for the FAQ page.


You can qualify for Income protection insurance if:: 

  • You are employed or self-employed 
  • You fall in the age gap of 18-59 years 
  • You legally live in the UK
  • You have a legal work permit in the UK 
  • You work at least 16 hours or more a week 
  • You have been employed for at least one year 
  • You have been registered with a UK doctor for at least two years 

You can not apply for the income protection policy if you are unemployed. You must work at least 16 hours a week. This insurance is not an unemployment cover, so it won’t compensate if you are unoccupied. However, if you already have the income protector insurance and become jobless, you can still claim the money from your insurance if you fall sick or are injured as long as you still make the payments for your coverage each month. 

The income protection insurance covers your income if you have a health issue and can not go to function for at least 4-weeks or more. The amount you can claim is established by 60% of the gross income, up to £60,000 each year, and 50% of your annual gross income, which is over £60 000 annually.

You can call our insurance team at Care Financial Services as soon as you know you need to take time off work. Ensure that it’s not more than two weeks off work; otherwise, you may have to go through a long waiting period to claim. Our experts will first examine your health issue with you in detail, and after that, you will be given a claim request form in which you will need to fill out the factors of your medical history and your current illness. We will also need some evidence about your work and financial position. After your form has been examined, your monthly payments will start as long as everything is correctly submitted. 

This insurance coverage does not apply to any particular medical issues. Your condition is assessed based on your inability to work based on which you can get your claim. 


The content on this page is based on our understanding and knowledge at the time of publication. It may be subject to change and may not be applicable to your circumstances, so should not be relied upon. Please contact us if you require further information about the content included on this page.

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