Income Protection Insurance
Protect your income if you are unable to work.
With our income protection insurance, you can feel confident that your finances are secure if illness or injury keeps you from working.
What would happen if you couldn’t work?
Your income is more than a pay cheque; it’s the foundation for your family’s well-being and the life you enjoy.
But what if illness or injury suddenly stops you from working? How would you keep up with everyday expenses?
State benefits and Statutory Sick Pay (SSP) rarely cover all your needs. Without the right protection, losing your income can quickly put your finances under pressure. Learn more about SSP on our dedicated page.
Income protection insurance replaces a portion of your lost earnings, giving you a steady income stream if you can’t work. With this support, you can focus on recovery instead of worrying about your finances.
Why choose Holborn for income protection insurance?
With so many options, finding the right type of policy can feel challenging. Here’s why clients trust us to get them the right protection:
Trusted insurers
We work with leading insurance providers to get you the high-quality coverage you need.
Independent
We’re not tied to a single provider, so we can compare income protection insurance from multiple providers to find the right policy for you.
Flexible cover
We offer different policy options, so you can choose the level of cover that suits your needs.
The benefits of our income protection insurance
Income replacement
Get a percentage of your salary (usually up to 70%) if you can’t work because of illness or injury.
Flexibility
Choose how much cover you want, how long your policy pays out, and how long you wait before payments start.
Tax-free payments
Most monthly income protection payouts are tax-free.
Peace of mind
Helps to pay your mortgage and other living costs while you are unable to work.
Do you need income protection insurance?
If you rely on your salary to pay your mortgage, support your family, or cover everyday expenses, income protection insurance is worth considering.
You may benefit if:
- You’re self-employed or don’t receive full sick pay from your employer
- You have financial dependents who rely on your income
- You want to protect your savings if you get sick or injured unexpectedly
- You would have trouble paying your monthly bills without your salary
How Income Protection Insurance Works
Protecting your income is straightforward. Here’s how it works:
Choose your cover
Decide how much of your income you’d like to protect.
Select a deferment period
Choose how long after you stop working your payments will begin.
Pay monthly premiums
Pay each month to keep your policy active.
Receive payments
Once approved, you will get a monthly tax-free payout.
Protect Your Income Today
Life can be unpredictable, but your finances don't have to be. Income protection insurance lets you focus on getting better, not on money worries.
Income Protection Insurance FAQs
Costs can vary depending on the policy you choose. Monthly premiums are typically affected by:
- Age
- Job
- Pre-existing medical conditions
- Current health
- The amount of income you want to cover
Most income protection policies have a waiting period before payments start, and you can usually pick a time from 4 to 52 weeks. Picking a longer waiting time can lower your monthly payments.
How long you receive payments depends on your policy. Short-term policies usually pay for one to five years. Long-term plans can pay until you retire. In general, longer payment periods mean higher monthly costs.
Critical illness cover pays a one-off lump sum if you’re diagnosed with a serious medical condition covered by your policy. Income protection provides a percentage of your salary as monthly payments until you return to work.
The amount of your salary you can protect depends on your policy. Most income protection plans cover between 50% and 70% of your income before tax.
Choosing the right type of cover for your needs is crucial. At Holborn, you can easily compare different cover options, costs, and benefits. Our team will help you find the plan that best fits your needs.
Yes, income protection insurance is especially helpful if you are self-employed, as you likely won't receive sick pay from your employer if you are unable to work due to illness. Payments are typically calculated based on your average monthly earnings.