Income Protection

Secure up to 70% of your gross income if illness or injury prevents you from working--ensuring your bills are paid even when you can't earn.

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What is Income Protection?

Income Protection is designed to replace a significant portion of your earnings (usually 50–70%) if you are unable to work due to any illness or injury—not just life-threatening conditions. Unlike Critical Illness Cover which offers a one-off payout, Income Protection provides an ongoing monthly benefit. It pays out until you are well enough to return to work, reach the end of the policy term, or retire, ensuring your lifestyle is maintained.

Understanding the Deferred Period

As mortgage and protection advisers based in Grimsby and Southend-on-Sea, we often help clients navigate the "deferred period." This is the waiting time you must be off work before the policy begins to pay out. Common periods range from 4 weeks to 12 months. Crucially, the longer the deferred period you choose, the lower your monthly premiums tend to be.

Tailoring Cover to Your Needs

We help you select the right structure for your situation. A short deferred period (e.g., 4 weeks) is ideal if you have little to no sick pay through work. A longer period (e.g., 6–12 months) may suit those with good employer sick pay schemes or personal savings to rely on initially, helping to reduce the cost of your cover.

Local Expertise for Your Peace of Mind

Don't leave your financial future to chance. Whether you are near Grimsby, Southend-on-Sea, or beyond, our advisers can help structure an Income Protection plan that perfectly complements your existing sick pay and savings. Secure your income today.

Why Choose Us?

Experience tailored mortgage solutions that prioritise your needs. We simplify the process, ensuring you feel supported every step of the way.

Friendly Guidance

Our approachable team takes the time to understand your goals. We turn complex jargon into easy-to-understand advice.

Tailored Solutions

We offer personalised mortgage options that fit your unique circumstances, whether you're a first-time buyer or a seasoned investor.

Comprehensive Support

From initial consultation to completion, our dedicated professionals are by your side to ensure a smooth and stress-free mortgage experience.

Frequently Asked Questions

What is income protection insurance?

Income Protection insurance pays you a regular income if you're unable to work due to illness or disability. It continues until you return to work or reach retirement, depending on your policy. You might also hear it referred to as Permanent Health Insurance.

What does income protection insurance cover?

Income Protection won't replace your full salary, but it's designed to give you a stable level of financial support while you're unable to work. Most policies pay between 50% and 70% of your usual gross income. This is because payments are tax-free and may take into account any state benefits you're entitled to. You won't usually receive payments straight away. Most policies include a deferred period, which can range from four weeks up to two years. This delay is designed to align with any sick pay from your employer or Statutory Sick Pay, which can cover you for up to 28 weeks. It's also worth noting that Income Protection is different from other types of illness cover, such as Critical Illness Cover, which pays a one-off lump sum if you're diagnosed with a specified serious condition. Comparing these options with a local independent advisor can help you decide which type of protection best suits your needs.

Do I need income protection insurance in Grimsby?

This will depend on your personal circumstances, we provide a complimentary free initial insurance review for all our clients, facilitated by our expert mortgage advisors in Grimsby and Southend-on sea. We carefully assess your personal and financial circumstances to determine the need and suitability of Income Protection. This review takes into account factors such as lifestyle, age, and medical history, all of which influence monthly premiums. It is advisable to evaluate both overall expenses and coverage, particularly if you already have other policies in place.

Ready to Discuss Income Protection?

Speak to one of our experienced mortgage advisers today. We'll guide you through your options and find the right solution for you.

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