If you find yourself unable to work due to illness, the policy pays a portion of your monthly earnings, giving you peace of mind, security against lost income, and the ability to cover your daily essential expenses. Income Protection Insurance provides payments that can be used for rent or mortgage payments, as well as bills and day-to-day living expenses. The very best policies continue to pay as long as you cannot work, or until you retire.

Unfortunately, Income Protection isn’t a well known form of protection - but it is one that everyone of working age should consider. If your employer does not offer indefinite sick pay, and/or have monthly outgoings, Income Protection is a good alternative to eating into your savings.

Nobody likes to think about it, but have you considered how you would cope if you were to lose your source of income? Unfortunately, this happens to lots of people every year, here are some facts to consider:

1. One million workers find themselves unable to work every year. ABI
2. 31% of UK adults have experienced unexpected leave from work. Aviva
3. 48% of households have no savings, or savings less than £1500. ONS
4. Just 43% of employers offer Occupational Sick Pay - the rest use Statutory Sick Pay only.
5. Statutory Sick Pay pays out £109.40 per week for 28 weeks - after four initial days of illness. (Gov.uk)