INCOME PROTECTION INSURANCE
Protecting Your Income When You’re Unable To Work
Income Protection Insurance is designed to provide a regular monthly benefit if illness or injury prevents you from working, helping you continue to meet your financial commitments while you focus on your recovery. We’ll explain your options clearly and help you choose cover that’s appropriate for your circumstances.
Based in Dorset, providing mortgage and protection advice to clients across the UK by telephone, video and face-to-face appointments.
Advising Clients UK-Wide
Telephone, Video & Face-to-Face
INCOME PROTECTION PLANNING
Building your income protection plan
Income Protection advice starts with understanding how your household would cope financially if illness or injury prevented you from working.
Understand Your Income
We'll discuss your employment, earnings, monthly commitments and the people who rely on your income.
Review Existing Benefits
We'll consider any sick pay, employer benefits or existing protection already available to you.
Identify Any Income Gap
We'll help you understand how long your finances could support you if you were unable to work.
Recommend Suitable Cover
We'll explain your options, including deferred periods and benefit levels, before making a recommendation based on your circumstances.
WHY INCOME PROTECTION MATTERS
Protecting One Of Your Most Valuable Assets
Your ability to earn an income supports almost every part of day-to-day life, from household bills and mortgage payments to family commitments and future plans. If illness or injury prevented you from working, the financial impact could quickly become difficult to manage.
Income Protection Insurance is designed to provide a regular monthly benefit if you are unable to work due to illness or injury, helping you maintain greater financial stability while you focus on your recovery. The right policy will depend on your circumstances, existing benefits and budget.
YOUR INCOME SUPPORTS MORE THAN YOUR SALARY
What Would Continue If Your Income Stopped?
Many regular commitments continue even when you are unable to work. Mortgage or rent payments, household bills, food, transport and family costs can still need to be met while your earnings may reduce or stop.
Understanding your employer sick pay, savings and other financial support can help identify how long you could manage and whether there may be an income gap worth protecting.
- Mortgage, rent and household commitments
- Employer sick pay and existing benefits
- Savings and the period they could support you
Everyday Living Costs
Your income helps cover essentials such as food, utilities, transport and regular household spending. Suitable cover can help provide ongoing support if illness or injury prevents you from working.
Mortgage And Financial Commitments
Mortgage payments, rent and other financial commitments do not necessarily stop when earnings reduce. Income Protection may help you continue meeting these costs, subject to the policy terms.
Time To Focus On Recovery
Knowing that part of your income may be protected can provide reassurance and help reduce immediate financial pressure while you concentrate on your health and recovery.
HOW INCOME PROTECTION WORKS
Understanding How Income Protection Works
Income Protection Insurance is designed to provide a regular monthly benefit if illness or injury prevents you from working. Rather than paying a single lump sum, it can provide ongoing financial support, subject to the policy terms, while you focus on your recovery.
Policies can be structured around when payments begin, how long they could continue and the level of benefit selected. Understanding these features can help you compare the options more confidently.
FROM CLAIM TO RETURNING TO WORK
Four Features Shape How The Policy Supports You
The monthly benefit, deferred period, benefit period and return-to-work provisions all affect how a policy could respond if you become unable to work. These features should be considered together rather than in isolation.
Advice can help you understand the trade-offs between cost, waiting periods and the length of support, based on your earnings, sick pay, savings and wider financial commitments.
Monthly Benefit
Income Protection is designed to pay a regular monthly benefit if illness or injury prevents you from working, subject to the policy definition of incapacity and other terms.
Deferred Period
The deferred period is the waiting time before payments begin. It is often selected around employer sick pay, savings and how long you could manage without your usual income.
Benefit Period
Policies may pay for a limited period or potentially until you return to work, reach the end of the policy term or retire, depending on the cover selected and policy conditions.
Returning To Work
Benefit payments would normally stop when you are able to return to work. Some policies may also offer rehabilitation or proportionate support, subject to their terms.
WHO COULD BENEFIT?
Could Income Protection Be Right For You?
Income Protection is not limited to one type of worker. Whether you are employed, self-employed, a contractor or a company director, losing your income because of illness or injury could affect your ability to meet everyday financial commitments.
Your employment status, sick pay, income structure and existing benefits all influence the type and level of cover you may wish to consider.
EMPLOYED CLIENTS
For Employees
Many employers provide some level of sick pay, but this may only continue for a limited period. Once employer sick pay ends, maintaining your usual income can become more difficult.
Income Protection may help provide ongoing financial support if illness or injury prevents you from working, subject to the policy terms and the deferred period selected.
- Review the length and level of employer sick pay
- Consider savings and other available resources
- Match the deferred period to your existing support
SELF-EMPLOYED CLIENTS
For Self-Employed Professionals
If you are self-employed, you may not have access to employer sick pay. A period away from work could therefore have a more immediate impact on your personal income and regular financial commitments.
Advice can help you consider an appropriate benefit level and waiting period in the context of your earnings, savings, business arrangements and budget.
- No employer sick pay to rely on
- Income may vary from month to month
- Personal and business commitments may overlap
DIRECTORS & CONTRACTORS
For Company Directors And Contractors
Company directors and contractors can have more complex income arrangements, including salary, dividends, contract income or earnings through a limited company.
Understanding how an insurer will assess that income, and what protection is already available, is an important part of deciding whether cover may be suitable and how it should be structured.
- Income may come from more than one source
- Contract terms and work patterns can vary
- Insurer evidence requirements may differ
A USEFUL CHECKPOINT
Could It Be Time To Review Your Income Protection?
Income Protection is usually arranged around your earnings, employment status, sick pay and financial commitments at the time. If any of those circumstances change, it can be sensible to check whether your existing cover still reflects how you work and what you need to protect.
A review does not automatically mean changing your policy. It is an opportunity to understand what is already in place, identify any gaps and consider whether the benefit level, deferred period and policy term remain appropriate.
WORK & EARNINGS
When The Way You Work Or Earn Changes
Changing Job Or Employer
A new role can bring different earnings, sick pay and employee benefits, which may alter how long you could manage without your normal income.
Becoming Self-Employed Or Starting To Contract
Moving away from employment can remove employer sick pay and make the financial effect of time away from work more immediate.
Becoming A Company Director
Salary, dividends and other income arrangements may need to be considered carefully when reviewing the benefit available under a policy.
FINANCIAL COMMITMENTS
When Your Income Or Outgoings Change
A Significant Pay Rise Or Reduction
Changes to earnings can affect whether the insured benefit still reflects the income you want to protect and the insurer's benefit limits.
A New Or Larger Mortgage
Higher borrowing or materially different household costs may increase the monthly commitments you would need to manage during a period away from work.
LIFE & FAMILY
When More People Or Plans Depend On Your Income
Starting Or Growing Your Family
Childcare, household spending and other family responsibilities can change how important your monthly income is to the people who rely on you.
Reducing Hours Or Planning A Career Change
A different work pattern may affect earnings, affordability and the suitability of existing policy terms.
TRUSTED ADVICE
Why Clients Choose Conrad Financial Services
Income Protection advice should begin with understanding how you work, what financial support you already have and which commitments depend on your earnings.
We explain the available options clearly, consider the policy terms that matter and support you through the advice and application process.
CLIENT EXPERIENCE
★★★★★
Confidence After Becoming Self-Employed
“When I started working for myself, I realised I no longer had employer sick pay to rely on if illness or injury stopped me from working. Conrad Financial Services explained Income Protection clearly, helped me understand the different options and made the process feel straightforward. The advice was professional, easy to follow and tailored to my circumstances.”
Illustrative testimonial created to represent the type of advice experience Conrad Financial Services aims to provide. Replace with approved genuine client feedback before launch where available.
INCOME PROTECTION KNOWLEDGE HUB
Featured Income Protection Guides
Explore practical guides covering how Income Protection works, who it may be suitable for and the key features to consider when arranging or reviewing cover.
Income Protection
Own occupation, suited occupation and activities of daily work
Compare own occupation, suited occupation and activities-based income protection definitions and how each may affect a future claim.
Read Guide
Income Protection
Income protection deferred periods explained
Understand income protection deferred periods and how employer sick pay, savings, benefit length and affordability may influence the choice.
Read GuideINCOME PROTECTION FAQs
Frequently Asked Questions About Income Protection
Income Protection Insurance can seem complicated at first, but understanding the key features and how policies work can help you make more informed decisions. Below are answers to some of the questions we’re most commonly asked. If you’d like advice tailored to your circumstances, we’re here to help.
Need clarity?
Need Help With Your Protection?
Not sure which type of protection may be right for you? Book an initial conversation and we’ll help you understand your options.
What is Income Protection Insurance?
How is Income Protection different from Critical Illness Cover?
How much Income Protection cover can I have?
When would my Income Protection payments begin?
How long can Income Protection pay benefits for?
Can self-employed people take out Income Protection?
Can company directors arrange Income Protection?
Does Income Protection cover every illness or injury?
Is Income Protection worth considering if I already receive employer sick pay?
How do I know which Income Protection policy is right for me?
LET'S START THE CONVERSATION
Ready To Protect What Matters Most?
Whether you’re protecting your family, your income or your mortgage, we’re here to help you understand your options. We’ll explain everything clearly, answer your questions and recommend protection that’s appropriate for your circumstances.
- Personal, tailored protection advice
- Telephone, video and face-to-face appointments
- Dorset based, supporting clients across the UK
- Usually respond within one working day
READY TO TAKE THE NEXT STEP?
Let’s Talk About Your Mortgage & Protection Plans.
Whether you’re buying your first home, moving house, remortgaging, self-employed, a company director or looking to protect your family, we’re here to help you make confident decisions.