How many households insure their pet without a second thought, yet leave the people who pay for everything completely unprotected?
In many homes, the dog or cat is insured, the car is insured, the home is insured, but the income that keeps the household running is not. Your income pays for the mortgage, food, energy bills, school costs and everyday life. If that income stopped tomorrow because of illness or injury, the impact would be immediate and, for many families, frightening.
Income protection is about making sure your family can keep going if life does not go to plan. If you are unsure how this would work for you, this is when you should contact Ian Smith, a whole of market Protection Adviser based in Essex.
What Income Protection Actually Is
Income protection is a policy that pays you a regular monthly income if you are unable to work due to illness or injury. It’s your own sick-pay plan!
It replaces part of your income so essential bills can still be paid while you recover. It is not a one-off payout. It is income insurance designed to support real life, month after month.
Payments usually continue for 1-2 years, or can even go until your return to work or the policy term actually ends. Some full plans can end up paying for decades.
Why Your Income Is Your Family’s Biggest Asset
Most families rely on one or two incomes to cover everything. If that income stops, pressure builds immediately. Savings disappear quickly, and bills do not pause because you are unwell.
Income protection creates breathing space when health must come first.
How Statutory Sick Pay Really Works
Many people assume statutory sick pay (SSP) will protect them. In reality, it is very limited. Check your work contract for SSP… many people don’t even realise this is the only cover they actually have.
Statutory sick pay currently pays £118.75 per week, and lasts for a maximum of 28 weeks.
That works out at roughly £515 per month before tax. For most households, this would not come close to covering the mortgage, bills and food. Once the 28 weeks ends, statutory sick pay stops completely.
This is often where families run into serious financial trouble.
How Income Protection Works When You Need It
Income protection really has to be arranged while you are fit and healthy.
You choose a monthly benefit and a waiting period. If illness or injury stops you working, the insurer pays a regular income after the waiting period (this can be 1 week , or 1,2,3,6,12 months). The longer the wait period, the cheaper the cover.
Payments can continue for as long as you are unable to work, depending on the policy.
Without income protection, an accident or illness could quickly turn into mortgage arrears, or even repossession, and long-term debt that follows you for years!
How Income Protection Helps With Everyday Life
Income protection can help cover
Mortgage or rent payments
Council tax and utility bills
Food, travel, general living costs
Children’s activities such as school clubs, trips or pocket money
Without it, many families rely on credit cards or loans just to survive.
Who Benefits Most From Income Protection
Single income households without savings
Main earners without savings
Self employed workers without savings
Homeowners without savings
This is not about fear. It is about avoiding financial collapse when health fails.
How I Help Families Protect Themselves
I look at your income, outgoings, sick pay and savings. I explain income protection clearly and match it to your job and budget.
If you want proper protection advice, this is when you should contact me, Ian Smith, a whole of market Protection Adviser based in Essex.
Frequently Asked Questions
How much income protection do I need?
At the minimum enough to keep essential bills paid if you cannot work.
Does income protection cover redundancy?
No, it covers illness and injury only. You have to be signed off from work by a doctor.
Can self employed people get income protection?
Yes, and it is often essential. Many of my protection clients are self-employed.
How long do payments last?
It all depends on the plan. Every single policy is different.
To get a full review on your protection needs, please contact me via the website, drop me an email or call the office. We can book a call and have a no obligation, non-rushed discussion to get all your needs and requirements taken care of.
