Income protection insurance

Worried about loss of earnings? Compare income protection insurance with ActiveQuote [1]

Coronavirus and accident, sickness and unemployment protection (ASU)

We’re sorry, but you can’t get cover for unemployment protection through us. That’s because a lot of insurers have removed this cover because of Covid-19. You can still get cover for illnesses and injuries though. There’s usually a minimum period you’d have to be ill for to qualify for any pay out, so it’s unlikely to cover a case of coronavirus.

Find more information about your finances, insurance and Covid-19

What is income protection insurance?

Income protection insurance will provide you with financial support if you find yourself unable to work, due to accident or illness, or if you're made redundant. You can get short-term or long-term policies, depending on your needs.

Do I need it?

You might have savings to fall back on, an adequate company redundancy package, or company sick pay that’ll cover illness in some circumstances.

But unemployment protection will help you to maintain your lifestyle and pay the bills if you can’t rely on these, either in the short or long term.

Bear in mind though that it’ll only cover a percentage of your income that you specify when you take out the policy, up to 70% of your salary.

Short-term or long-term income protection?

Long-term unemployment protection typically covers you for illness or injury. It pays out until you can work again, or until you retire, die or the policy ends.

Short-term income protection can also cover involuntary redundancy, but will only pay out for a set period of time, such as 12 months.

Insurers paid out over £604m for income protection claims in 2017

Get protected

insurers paid out £604,748,000 in income protection claims according to the Association of British Insurers (ABI) in April 2018

Alternatives to income protection

Could your savings cover you for long if you were out of work?

Compare income protection

[1] introduces customers to ActiveQuote who are authorised and regulated by the Financial Conduct Authority.'s relationship with ActiveQuote is limited to that of a business partnership, no common ownership or control rights exist between us. Please note, we cannot be held responsible for the content of external websites and by using the links stated to access these separate websites you will be subject to the terms of use applying to those sites

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