Income protection insurance
Protect your income against accident, sickness or unemployment today.
An income protection insurance policy can protect you against loss of income due to unemployment, involuntary redundancy, illness or accident. It is designed to provide you with tax-free income and can pay out until you are able to return back to work or retire.
How to save money on income protection
Everybody’s income protection needs are different, making it difficult to get a quote tailored to you.
This is why Bobatoo focuses on building relationships with customers by getting to know their individual circumstances, allowing us to find an income protection policy which you truly value – without the complicated technical jargon.
Get a free income protection quote with Bobatoo today.
Read our guide
Learn how to save money on income protection insurance with our special guide...
What is income protection insurance?
Income protection insurance is one of the most important ways of ensuring that you can cope financially if you can no longer work. Bob says that this is type of cover pays out if you are unable to work due to an accident or sickness.
When you take out income protection insurance, there are a number of ways that your benefits can be paid out. If you choose a short term income protection policy, your payments will last for a set period of time (for example, twelve months).
You may want to choose a short term policy to tide you over for a period of time following an accident or illness, but have other financial support after this time. If you’re concerned that a short term policy wouldn’t cover your financial commitments, you might want to think about long term income protection insurance.
Income protection insurance quotes
Save money on income protection insurance by comparing policies suited to you.
Latest...
How much does income protection pay out?
Unlike some life insurance policies, income protection pays out on a regular basis rather than one lump sum. This makes sure that you have a regular income, just as you would with a regular salary.
Your policy will likely pay out a tax-free benefit up to a maximum of 70% of your current income.
Why do you need income protection?
State benefits provide only limited income if you’re unable to work due to accident, sickness or unemployment, so income protection helps you to manage your financial commitments and maintain your lifestyle.
If you choose a long term income protection policy, your payments will last until your death or until your retirement age, although this does depend on the type of cover that you choose. Like short term cover, it protects you if you become unable to work because of an accident or illness. However, it gives you more cover because it lasts a lot longer.
These two types of cover only protect your salary if you become ill or have an accident. As well as short term and long term income protection insurance, Bob tells us that there’s also a policy that covers unemployment too. This is known as Accident, Sickness and Unemployment (ASU) cover and protects you if you are made redundant or unemployed, as well as covering you if you have an accident or illness.
STAY UP TO DATE
Sign up for the latest deals and money saving offers
Get our weekly newsletter full of the latest money saving offers, deals and discounts.
