Compare our best income protection insurance

Short-term income protection insurance ensures you receive a regular payment in place of your wages in the event of illness, injury or involuntary redundancy (it doesn’t cover voluntary redundancy). With short-term income protection insurance, your regular pay outs are normally limited to a set time period – often one or two years.

Some short-term policies pay out if you can’t perform aspects of your role – these are called “own occupation” policies. There are also “suited tasks” policies, which offer more limited protection – these won’t pay out if your employer offers you a different role at work.

With long-term income protection insurance providers will usually cover you until you return to work, retire or until the income protection cover ends. These policies usually offer a minimum of five years of cover. This type of cover is for more serious situations that could mean you’re unable to work for a much longer period of time.

Permanent health insurance covers you for a percentage of your income if you have an accident or illness that leaves you unable to work. It’s a long-term insurance and may cover you until you reach retirement age.

Accident and sickness cover pays out until you can return to work, usually for one or two years.

Unemployment cover pays out a replacement income if you lose your job. Payments are deferred so this won’t be instant, and typically start after three months.

This type of cover pays out if you suffer illness, an accident or job loss.

Guaranteed policies come with fixed monthly premiums, so you know exactly what you must pay each month for your income protection cover.

Reviewable policies let you change your level of income protection insurance after a set term.

Age-related policies with these premiums increase as you get older. However, your occupation or lifestyle has no effect on your premium.