Income Protection Insurance

life insurance that isn't confusing

protect your earnings when you are unable to work

Understanding Income Protection Insurance

In today’s uncertain world, your income is your most valuable asset. At Multi Quote Ltd, we offer Income Protection Insurance designed to safeguard your financial well-being if you’re unable to work due to illness or injury. Ensure you and your family maintain your lifestyle, no matter what life throws your way.

Income Protection Insurance provides a safety net by replacing a portion of your income if you are unable to work due to health issues. Unlike other insurance types, this policy offers ongoing financial support, allowing you to focus on recovery without the stress of financial strain.

Why Choose Income Protection Insurance?

Reliable Income Support

Receive up to 70% of your regular income, helping you cover essential expenses such as mortgages, bills, and everyday costs.

Tailored Flexibility

Customise your coverage with various deferment and benefit periods to align with your financial needs and circumstances.

Comprehensive Coverage

Protects against a wide range of conditions, ensuring you're covered for both short-term and long-term absences from work.

Tax-Free Benefits

Enjoy tax-free payouts, maximising the financial support available to you during challenging times.

How Income Protection Insurance Works?

When you purchase an Income Protection Insurance policy, you select a deferment period (the waiting time before payments start) and a benefit period (how long you’ll receive payments). Should you become unable to work due to a covered illness or injury, you’ll receive regular payments until you can return to work or until the benefit period ends.

Do I need Income Protection Insurance?

Income Protection Insurance is a smart choice for a wide range of individuals. Unlike other protection products, such as life insurance or critical illness cover, which are often geared towards those with significant debts like a mortgage, income protection offers a valuable safety net for almost everyone.

This is because the majority of us rely on a steady income to manage our daily expenses, and facing an unexpected loss of earnings due to illness or injury could lead to financial difficulties. With Income Protection Insurance from Multi Quote Ltd, you can ensure that your financial obligations are met, even when you’re unable to work.

Frequently Asked Questions

How does Income Protection differ from other insurance types?

Income Protection Insurance provides regular income replacement if you're unable to work due to illness or injury, whereas other policies might offer a one-time payment or cover different risks.

Who should consider Income Protection Insurance?

Anyone who relies on their income to meet financial obligations should consider this insurance, especially self-employed individuals and those without employer sick pay.

How do I choose the right deferment and benefit periods?

Our advisors can help you assess your financial situation to choose deferment and benefit periods that offer the best balance of cost and coverage. Get in touch with us by emailing [email protected] or call us on 01329 551884

How much does income protection cost?

There are a variety of cover types with income protection as people’s budget and circumstances differ. So, your premium will depend on the type of policy you want. The insurer will also consider your lifestyle, your age and whether you smoke. We always suggest speaking to an independent advisor to gain a more accurate cost for income protection.