What is income protection?

Income protection helps you pay your bills when you can’t work

No one knows what lies ahead, but we do know that accident or sickness can strike at any time. When it does, it could leave you unable to work, hitting your pocket hard.

With an income protection plan, you get to enjoy the peace of mind knowing that if you're unable to work due to accident or sickness, you'll receive a weekly or monthly cash lump sum.

This valuable benefit can help pay for your everyday needs - from keeping a roof over your head and food on the table, to ensuring your household bills are covered. It's straightforward, common-sense protection to see you through the hard times.

Why do I need income protection?

If you’ve asked yourself the type of questions below, then an income protection plan could be exactly what you’re looking for:

“If I had a sickness or accident serious enough to stop me working for 6 months, how much money would I have coming in over that period and would this cover all my commitments?"

“Through my income, I protect my family, home, cars and pets; – how will I continue to do that if I suddenly lose my income due to an accident or sickness and I’m just not able to carry on working for a period?”

So if you’re in a position where your income is at risk if you were to suffer an accident or injury, or if you’re concerned that you may be unable to work altogether if the worst was to happen, then you should think carefully about the benefits of income protection.

 

What income protection plans do you offer?

We offer a comprehensive service to help you find a plan that fits your unique requirements. We offer our own Accident & Sickness Plan, and we also work with a select panel of leading income protection providers to offer a broader range of solutions.

 
 

Do you take part in semi-pro or hazardous sports?

Traditionally, it’s been a challenge to get income protection cover if you take part in hazardous or semi-professional sports. Many insurers would decline these applicants altogether or exclude any injury suffered as a result of these sports. With so many of us taking part in sport, options have been limited. Fortunately, we’re one of the few providers who specialise in this area. So, whether you’re into motor racing or take part in football or rugby on a semi-pro basis, get in touch and we’ll help to find the right plan for you.

What benefits are available with your plans?

Here are the typical benefits available with our plans:

  • Income benefits - of up to £5,000 a month paid

  • Optional extras – unemployment cover, life cover and critical illness cover are available with certain plans

  • Occupations – most are covered, including office jobs, manual jobs and being self-employed

  • Deferred periods – benefits can start once you’ve been off work for 14 days

  • Proof of earnings – some plans don’t require proof of earnings or income

  • Sporting activities covered - some plans cover participation in hazardous and semi-professional sports

  • Benefit payment term – payments are available for up to 12 months, or even until retirement

  • Underwriting – different types are available, from no medical questions asked to full medical underwriting

  • Tax-status – payments are tax-free

Which providers are on your panel?

We work with some of the most respected names in the UK protection industry. Our income protection plans are offered from the likes of AIG, Aviva, Holloway Friendly, Legal & General, Liverpool Victoria, Royal London, Vitality and Zurich. With such a wealth of options available to you, we have complete confidence that we will help you to find a plan that suits your needs, and at a price that’s right for your pocket.

 

I'd like to know more about income protection. How do I contact you?

You can call us on 0800 028 0849 or email us on enquiries@hiveinsure.co.uk – we look forward to helping you.