Why use us?

Income Protection feature Very competitive premiums 

Income Protection feature Compare plans from leading insurers

Income Protection feature All our policies cover your own occupation

Income Protection feature Quick and simple application

No talking robots, just the cheapest Income Protection.

What is Income Protection?

We insure our homes, our cars and our possessions but often we forget to protect what pays for it all, our earnings.

Income Protection pays a regular income if you can’t work due to illness or accidental injury. Paid tax free and directly to you, Income Protection can provide 50-60% of your normal gross income. Your policy will pay out until you return to work or until your cover end date.

Not to be confused with Accident, Sickness & Unemployment cover (ASU). ASU is typically designed to cover your basic bills for a maximum of 12 months. Income Protection can offer far more cover for a much longer term.

How does it work?

You will need to decide how much cover you need, how long you want the policy for and how quickly you want your claim paid.

We return quotes from a variety of leading Income Protection providers. Select a provider to see full details and if you’re happy with the policy apply online.

The prices we quote are based on good health with no major problems in your medical history. The majority of Income Protection applications are accepted on normal terms. If you have a medical condition or an issue in your medical history, the price quoted may increase.

Our trusted Income Protection partners

Types of Income Protection

1. Long-term Income Protection

This is the type of cover we offer. If you claim, your policy can pay your chosen benefit until you’re well enough to return to work or the policy reaches it’s end. You can cover 50-60% of your gross annual income and increase your cover each year with inflation.

2. Short-term Income Protection

This policy is designed to make payments for a limited time, usually around 1 – 2 years. Premiums are normally cheaper than long-term Income Protection. We don’t quote for this cover on our website.

3. ASU (Accident, Sickness & Unemployment)

ASU is a more restrictive type of Income Protection. It is designed to offer some financial protection if you are too ill to work or are injured and unable to work. Some also include an element of unemployment cover. Cover levels are often limited to just mortgage payments and other monthly outgoings. We don’t quote for this cover on our website.

Income Protection FAQs

Most people rely on their earnings to survive. If you were sick or in an accident and couldn’t work, could you cope financially?

Income Protection can help protect your way of life when you can’t work.

If you’re employed you may receive sick pay from your employer, It isn’t a legal obligation though. Some employers don’t have a sick pay scheme, If your employer does you can take it into account when choosing your deferred period.

If you’re self-employed you would have to rely on your own savings if you couldn’t work.

Once your policy is up and running you will normally pay your premium every month by direct debit. If you stop paying your premium, your policy will lapse and you won’t be covered.

If you are injured or suffer from an illness that stops you from working, you can make a claim with your insurer. Your policy will pay a monthly benefit starting after your chosen deferred period.

You can continue to receive your monthly benefit until you are well enough to return to work. If you aren’t well enough to work your policy will keep paying until it’s end date.

Each insurer varies slightly but it is possible to cover between 50% and 60% of your gross income. Any payments made from your policy are free of income tax.

The deferred period is the length of time you need to be off work before your policy starts to pay out. You would still need to make your claim straight away but the payments would start once your chosen deferred period has passed.

Deferred periods can be as short as 1 day or all the way up to 12 months. The most common deferred periods are 4 weeks, 13 weeks or 26 weeks.

When you’re choosing a deferred period find out how long your employer will pay you full sick pay for. If it’s 3 months you might consider using 3 months as your deferred period. The longer the deferred period the cheaper your premium will be.

When you buy Income Protection a commission is paid to the broker or financial adviser. Commission can be hundreds and sometimes thousands of pounds.

We give up 80% of the commission and this dramatically reduces your premiums.

A policy is the same whether you buy it from us, a big comparison site or a financial adviser.

We only offer Income Protection policies that cover your own occupation. In practice if you suffer an illness or injury that prevents you from doing your own job, your policy will pay-out.

This is known as the ‘own occupation’ incapacity definition. There are a couple of other types of incapacity definition. If you’re getting a variety of quotes watch out for these:

Any/suited occupation cover

A lot of policies use this type of cover. This can make a big difference to your policy. You could claim and an insurer could decide that whilst you can’t do your job you could do another job given your background, skills and education.

Working tasks 

Rather than covering a specific occupation, this cover requires that you are unable to carry out a number of normal tasks. These include walking a certain distance, climbing stairs, picking up an item or writing. This could also be know as the ‘activities of daily living’ definition.

Start by getting a quote on our website. You will see a comparison of our chosen Income Protection partners in order of price.

Click on the apply button next to any provider to find out more about the policy. You will find the important documents on this next page giving you the full details of the providers Income Protection policy.

Once you have read your important documents you can go ahead and apply for your policy. The application method depends on the provider but will be clearly explained on our website.

If you have any questions please don’t hesitate to e-mail us at admin@moneyworld.com or call us on 0800 118 5115.

The prices we quote are based on someone in good health with no major problems in their medical history.

Over 80% of all our Income Protection applications are accepted on standard terms and at the price quoted on our website.

There are only a few ways the premium quoted could increase:

  • You suffer/have suffered from a medical condition that, in the insurers opinion, makes you more likely to be off work sick in the long-term
  • Lifestyle factors such as height/weight, alcohol consumption or recreational drug use.
  • You take part regularly in a dangerous hobby, for example motor sports, extreme sports or rock climbing.