What is income protection?
Income protection is designed to replace part of your income if you cannot work due to illness or injury.
You choose a deferred period before payments start and a benefit period. Long-term policies can pay until you return to work or reach the policy end date.
Key benefits
- Useful for self-employed workers
- Helps cover rent, mortgage and bills
- Short and long-term options available
- Covers a wide range of illnesses and injuries
Frequently asked questions
Providers commonly allow cover up to a percentage of gross income. Limits vary by provider and employment status.
It is the waiting time before payments begin. Longer deferred periods usually reduce the premium.
Many modern policies can cover mental health conditions, subject to underwriting and policy terms.