top of page

Income Protection Insurance Explained

Not to get confused. Income Protection Insurance is not the same as “critical Illness insurance” which is actually normally attached to a term life insurance policy.

Income protection is for unexpected injury and or illnesses that have an impact on one’s income. It’s basically to provide an income if something happens to the policy holder when they are unable to work. This is normally 75% of what the policy holders were able to earn whilst being employed.

What is income protection insurance?

Income protection insurance is designed to pay money to the policy holder in the event that they cannot work due to illness or injury. Income protection insurance pays a fixed percentage of your income until you are able to return to work or reach retirement age. In most circumstances, the benefit is 75% of the policyholder's most recent income.

Every policy will come with specific conditions as what is regarded as a “qualifying illness” or a “qualifying injury”.

bottom of page