Income Protection

Compare income protection quotes

Getting an income protection quote is quick and easy. In most cases, it only takes a few minutes.

1. Tell us about yourself

Share basic details such as your age, occupation, income, and overall health.

2. Choose your level of cover

Decide how much of your income you want to protect and the length of the policy.

3. Answer a few health questions

Most applications involve a short health questionnaire rather than a medical examination.

4. Compare income protection options

Compare quotes from different UK insurers and choose the cover that best suits your needs.

What is income protection?

Income protection is an insurance policy that provides regular monthly payments if illness or injury stops you from working.

If a valid claim is made, the policy pays a portion of your income until you return to work, the policy term ends, or the benefit period concludes.

For many people, income protection offers peace of mind that if their health affects their ability to earn, they can still meet essential living costs and maintain financial stability.

How income protection helps when life interrupts your income

Replace lost
income

Receive regular monthly payments if illness or injury prevents you from working.

Keep your
home secure

Payments can help in meeting mortgage or rent commitments when you are unable to work.

Cover essential
living costs

Income protection can help cover bills, household expenses, and daily costs.

Focus on
recovery

Financial support can reduce stress and help you prioritise your health.

How income protection works

Income protection policies are generally easy to set up and administer. Most adhere to a simple process.

1. Choose how much cover you need

Decide the amount you want the policy to pay if you die. Many people choose a cover that could pay off a mortgage or support their family’s living costs.

2. Choose how much of your income to protect

Most policies allow you to insure a part of your earnings, typically up to about 50 to 70%.

3. Select a waiting period

You choose how long to wait before payments begin after losing the ability to work. Longer waiting periods can sometimes reduce the cost of cover.

4. Pay a monthly premium

Regular premiums keep the policy active throughout the chosen term.

5. Receive monthly payments if you cannot work

If illness or injury prevents you from working and the waiting period has passed, the policy begins paying a monthly benefit. As long as premiums are paid and the policy conditions are satisfied, the cover stays active for the entire duration of the policy.

What affects the cost of income protection?

The cost of income protection varies based on various personal and policy-specific factors. Insurers evaluate the risk involved before setting the premium you will pay.

Level of cover

Higher monthly payouts typically increase premiums

Age

Premiums usually are lower when cover is arranged earlier in life.

Health and medical history

Pre-existing conditions or past medical issues may influence pricing.

Occupation

Higher-risk occupations might result in increased premiums.

Lifestyle factors

Smoking or specific activities might affect the cost of cover.

Waiting period

Longer waiting periods usually reduce premiums

Is income protection suitable for you?

Income protection should be considered if your household depends on your income to maintain financial stability.

It might be especially relevant if you:

rely on your salary to support your household
have a mortgage or other significant financial commitments
would face financial hardship if illness stopped you from working for several months
want additional protection beyond savings or workplace benefits

For some people, employer sick pay, workplace benefits, or personal savings may already provide sufficient protection. For others, income protection can offer essential reassurance if illness or injury prevents them from working.

Income protection benefits and trade-offs

Income protection provides valuable financial security, but it is important to understand both the benefits and potential limitations before choosing a policy.

Benefits

Financial stability during illness

Monthly payments can help you cover essential living costs if illness or injury stops you from working.

Flexible cover options

Policies can be structured based on your income, waiting period, and the duration of benefit payments.

Long-term financial protection

Some policies provide payments for extended periods if illness prevents you from returning to work.

Trade-offs

Premiums depend on personal circumstances

Age, health, lifestyle, and occupation can affect eligibility and the cost of cover.

Waiting periods apply

Most policies include a waiting period before benefit payments commence, which you will need to plan for.

Does not cover redundancy

Income protection covers illness or injury, not redundancy or voluntary unemployment.

Frequently asked questions about income protection

How much of my income will be covered?

Most income protection policies cover between 50% and 70% of your pre-tax income, depending on the insurer and policy terms.

Who can apply for income protection?

Most people aged 18 to 60 are eligible to apply for income protection. Applications are reviewed individually and typically consider factors like age, health, lifestyle, and occupation.

Can I cancel my policy?

Yes. Most policies include a cooling-off period of around 30 days during which you can cancel and receive a full refund. After this period, policies can usually still be cancelled, although premiums already paid will not be refunded.

How long will payments last?

Policies can offer benefits for a fixed period, such as 1, 2, or 5 years, or until you are able to return to work, depending on the policy chosen.

How much does income protection cost?

The cost depends on factors like your age, health, employment, waiting period, and chosen level of cover.

Will I need a medical examination?

Applications are typically assessed through health and lifestyle questions rather than a medical examination. In some cases, insurers might request further medical information.

What if my circumstances change?

If your financial circumstances change, it might be possible to review your cover. In some cases, arranging a new policy could better reflect your updated needs.

Why arrange income protection through Muttuo?

Muttuo helps you compare income protection options from various UK insurers. Our team offers clear explanations and guidance so you can select cover that suits your needs and budget.

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