What is income protection insurance?
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In short: Insurance paying a monthly income if illness or injury stops you working — usually 50%–70% of gross income after a waiting period, until you return to work or the benefit period ends. Tax-free if premiums paid from taxed income.
Last reviewed:
Reviewed by Kaiser Khan
Different from critical illness lump sums and from redundancy cover.
Mental health claims are usually covered subject to policy terms.
See compare income protection guide.
Primary source: abi.org.uk/products-and-issues/topics-and-issues/protection-insurance
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