Income protection (IP) is an insurance policy that pays out if you’re unable to work because of injury or illness.
IP usually pays out until retirement, death or your return to work. IP will not pay out if you’re made redundant – but they will often provide ‘back to work’ help if you’re off sick.
Almost everyone suffers from sickness from time-to-time, meaning that they have to take time off work while they recover. That’s fine if you only have a week or two off sick, but if you were off sick for longer, or were never able to work again due to serious illness or injury, how would you pay your bills?
Regardless of whether you have children or other dependents, if you think you would struggle to cover your living costs if you couldn’t work, you should have income protection insurance.
Income protection insurance is especially important if you’re self-employed or you don’t receive sick pay if you can’t work.
Income protection insurance premiums vary widely depending on the type of policy you take out, the benefits it offers, and your circumstances. Other factors that will impact on the premium include:
Crystal Financial helps customers to protect the things that is most precious to them by providing a range of financial products.
Our products cover the whole of the market, ensuring you will be receive the best value for the cover you require. All with no-obligation and no pressure.
As part of the Crystal Group, we have helped over 50,000 customers and have a 4.6 / 5 customer service rating from independent reviews on Feefo.
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Crystal Legal Services Ltd, Gawsworth House, Westmere Drive, Crewe, CW1 6XB.
Crystal Legal Services Ltd is a claims management company Authorised and regulated by the Financial Conduct Authority.
Company registered in England and wales. Company registration 6837474. Registered office: Fairfield House, Back Lane, Spurstow, Tarporley, Cheshire, CW6 9TE.
Crystal Group does not provide any financial advice. Crystal Group is authorised and regulated by the Financial Conduct Authority as an Appointed Representative of Dragon Insurance Brokers under registrtaion number 599430. The quotes provided are based on the information you submit to us. Our service is free and you are under no obligation to accept any quotes you receive.