Secure your income when you can't work with Income Protection.
- Replace your income even when you are unable to work
- Choose from accident and sickness cover, unemployment cover or both
- Access free virtual GP service as part of your policy*
*Some Income Protection policies have a benefit that allows you access to a virtual GP service available 24/7, including phone and video consultations, private prescriptions and open referrals.
Providers
Compare Income protection quotes from 50+ leading UK Insurers.
What is Income Protection Insurance? How does it work?
Income protection insurance is like a financial safety net that steps in when you can’t work due to illness or injury. It provides you with regular payments to help you stay financially afloat during challenging times, allowing you to focus on your recovery. There are various options available, offering coverage for both short-term and long-term situations.
With income protection insurance, get yourself and your family the valuable, well deserved security.
Do I need income protection insurance?
To determine if income protection insurance is right for you, consider these questions:
- Do you have enough savings to cover your monthly expenses when you can't work?
- Does your employer offer sickness benefits, and if so, how much do they pay, and for how long?
- Are you self-employed without the safety net of sick pay from an employer?
- Are you eligible only for statutory sick pay (SSP), and if so, can it cover your expenses?
- Do you have any illness coverage through other insurance, such as critical illness insurance with your life insurance?
If any question answers “No”, then Income Protection can be crucial for you.
Experts Say:
"Even if you receive SSP and have no dependents, accidents or illness can prevent you from paying your bills. Income protection insurance in such situations can be highly beneficial."
What does an income protection insurance policy cover?
Monthly Support:
Receive regular monthly payments to replace a portion of your income for the whole term. Your first payment kicks in when your chosen waiting period (deferred period) ends.
Tailored Benefits:
Choose your monthly benefit amount, ranging from £500 to £6000, based on your eligibility. Your selected benefit remains consistent throughout the policy
Flexible Policy Terms:
Personalise your policy’s duration, with options spanning from 5 to 52 years or until you reach the age of 71.
Initial deferred period:
Monefi now partners with Vitality who will allow up to a five year deferment period, starting from the day you’re unable to work. Your initial payment arrives when this waiting period concludes.
Comprehensive Assistance:
Count on us for complete support throughout your claim and coverage journey, including rehabilitation services to aid your return to work.
Back-to-Work Assurance:
If your illness or injury results in lower earnings upon your return to work, you’ll receive one month’s benefit. This benefit is available unless you’ve already received 12 monthly payments.
Life Changes Coverage:
With approval under standard terms, you can increase your coverage amount to accommodate rising mortgage or rental costs.
Premium Relief:
After a successful claim, enjoy a premium waiver starting 13 weeks after the claim approval or at the end of your selected waiting period, whichever arrives first. Premium payments resume when your claim period concludes.
Secure your financial well-being with Monefi’s income protection insurance. Click below to get in touch!
How much is income protection insurance?
Starting your income protection policy at a young age has its perks – you pay lower monthly premiums, and these rates won’t increase as you get older. Even if you think the chances of injury or illness are slim, getting a policy early locks in a budget-friendly rate.
As life changes, like when you get a mortgage, you can easily adjust your policy to cover those costs if needed.
While this gives you a general idea and outlines some choices to consider, our income protection experts can tailor recommendations to your unique needs – So you get the right coverage and avoid overpaying!
The lady who I spoke to was brilliant. She was lovely and pleasant whilst being professional and fully informative. She was not pushy at all. She certainly had the right attitude and was engaging. If everyone was like her it would be perfect.
Christine Notley
This was the easiest transaction I’ve had in a long time, the customer service was amazing and very helpful and nice to talk with, would highly recommend the company to friends family etc, fantastic customer service. 5 stars from me.
Zoe Mary Hall
Mr Gower was very professional and found the right cover for me. He was polite and engaged in conversation, explained everything easily.
Callum Dobson
Frequently Asked Questions
Personal Information:
- Your full name
- Your age
- Your current address
Employment Details:
- Your occupation or the type of job you do.
- Whether you are employed by a company or self-employed.
Financial Information:
- Your annual income before taxes.
- The deferred period you choose (this is the waiting period before your income protection policy starts paying out).
- The amount of cover you want, which is typically based on your monthly income.
With this information, we can provide you with a tailored quote that matches your needs and circumstances.
- In the UK, you typically do not need to reapply for income protection insurance if you change jobs. However, if you get a new job with a higher probability of risk involved, you might have to pay more. Additionally, if you change to a job with significantly higher or lower income, you may want to adjust your policy to ensure it adequately covers your new income level or to reduce your premium accordingly.
- Monefi supports your recovery and rehabilitation while we’re managing your claim. We’ll pay up to £1,000 a year to help cover your expenses for 2 private consultations and for physical/mental health therapies.
Personal Information:
- Your full name
- Your age
- Your current address
Employment Details:
- Your occupation or the type of job you do.
- Whether you are employed by a company or self-employed.
Financial Information:
- Your annual income before taxes.
- The deferred period you choose (this is the waiting period before your income protection policy starts paying out).
- The amount of cover you want, which is typically based on your monthly income.
With this information, we can provide you with a tailored quote that matches your needs and circumstances.
- In the UK, you typically do not need to reapply for income protection insurance if you change jobs. However, if you get a new job with a higher probability of risk involved, you might have to pay more. Additionally, if you change to a job with significantly higher or lower income, you may want to adjust your policy to ensure it adequately covers your new income level or to reduce your premium accordingly.
- Monefi supports your recovery and rehabilitation while we’re managing your claim. We’ll pay up to £1,000 a year to help cover your expenses for 2 private consultations and for physical/mental health therapies.
