Income protection insurance
Protect your income if you can't work. And boost your payouts by up to 20%1 when you look after your health.
5 Star Defaqto rated income protection
What is income protection insurance?
Income protection is a type of life insurance policy that provides a regular stream of monthly income if you're unable to work due to illness or injury.
This financial safety net allows you to focus on your recovery without the added stress of lost income and mounting bills.
The payouts from an income protection plan will typically continue until you are well enough to return to work. Plus, while your income cover is active, you can claim as many times as you need to.
Benefits of income protection insurance
When you make a claim on your income protection policy, the payout is tax-free. It helps you protect your finances while you recover. The money can cover anything, like:
- Pays you a tax-free monthly income if you need to take time off work for an illness or if you’ve been injured
- Helps pay for expenses like a mortgage or rent whilst you recover
- Gives access to our private healthcare treatment to support your recovery.
We paid 95.4% of Income Protection Cover Claims in 2023 (Vitality Claims and Benefits Report, 2024)
How is this different from life insurance?
Benefits of Income protection insurance
You never know when an illness or injury could stop you working. But you can put the right cover in place, just in case.
If you get sick or injured and can't work, income protection insurance can:
- Helps pay for expenses like a mortgage or rent whilst you recover
- Gives you access to private healthcare treatment to support your recovery, unique to Vitality
Benefits of Life insurance
Pays your loved ones a lump sum if you're diagnosed with a terminal illness or pass away.
With life insurance you can:
- Choose between a whole of life or a fixed term plan
- Cover important costs, like your mortgage, funeral or family living expenses
- If your circumstances change, you change the amount your family would get
How does income protection work?
Choose how much cover you need
You select the amount of protection you need and any deferred period*
Pay a monthly premium
This is what you'll pay each month for your income protection
Make a claim
Call us on 0345 601 0072, email [email protected] or find out more
Receive regular payout
If your claim’s approved, a monthly income will be paid into your bank account
What our members say...
I'm self-employed in my early 50's. I was injured skiing.
I stretched a shoulder ligament and had whiplash. The injury was mild, but I was facing a loss of income. I needed three months off work. It was a relief my Income Protection plan paid out £4,000.
Julian’s income protection insurance details:
- £2,000 per month Income Protection
- guaranteed his earnings upfront. So, he didn't need to worry about proving his level of income before he claimed
- his deferred period was 1 month, so his income protection covered two months income out of the three he was off work**
*Real claim with name changed for anonymity purposes
**You choose a deferred period on the plan. This is how long you’ll need to be unable to work before we start to pay your claim.
What do I get with Vitality income protection?
Our income protection insurance includes:
Up to 20% extra on your payout
Boost your monthly payout for six months by looking after your health.1
Healthcare and support
Access a panel of support services to help your recovery when you claim. Includes physio, therapy and cancer support.
Guarantee your payments
We’ll automatically guarantee your benefit amount up to £1,500 per month. When you verify your earnings we will guarantee up to £8,000 a month.*
Choose your deferred period
Pick a deferred period that matches your sick pay, then choose a payment term from 1 year up to the full policy duration.
Flexible cover
Increase cover, waiting periods and payment periods when big life events happen.
Stay healthy with top rewards
Discounted gym membership, spa breaks and weekly coffees.
What's not covered with income protection insurance?
Like most insurers, our income protection insurance won't pay out if you're:
- made redundant or dismissed
- still getting paid sick pay
How much is income protection insurance?
Your income protection premium depends on few things, like:
- Your age
- Your medical history and your family’s medical history
- Your job
- Your income level
- How much alcohol you drink
- Your choice of deferred or waiting period
- If you’re a smoker (or use other tobacco products)
You could also add on indexation. This allows you to increase your cover in line with inflation.
Our plan's designed to suit a range of occupations
Doctors and surgeons
We guarantee benefit amounts of up to £3,000 without the need to submit proof of earnings.
Parents on parental leave
If on parental leave, you'll still be classified as working when they make a claim. This prevents a lower payout at claim stage.
Self-employed
Members don’t have to worry about a temporary drop in income. You’ll still get the full benefit when making a claim, when you verify your earnings upfront.
Need some advice?
Our team are here to help you decide if income protection insurance is the right cover for you.
They'll give you qualified advice and recommendations. No obligation, no charge.
Call us on 0330 678 3328
Or
Call charge information
Income protection insurance FAQs
Sources
- Payouts are boosted by up to 20% for the first 6 months of your claim. The booster amount is based on your Vitality status at point of claim.
- www.gov.uk/employment-support-allowance/what-youll-get, November 2024
