Opening hours
Mon - Sat: 8am - 8pm
Sun: 10am - 5pm
Address
57 High Street
Rayleigh, Essex, SS67EW
Phone numbers
01268 330 880
07738 165 602
Phone numbers 01268 330 880

Income Protection Insurance

What is income protection insurance?

Income protection insurance (sometimes known as permanent health insurance) is a long-term insurance policy designed to help you if you can’t work because you’re ill or injured.

It ensures you continue to receive a regular income until you retire or are able to return to work.

  • It replaces part of your income - if you can’t work because you become ill or disabled.
  • It pays out until you can start working again - or until you retire, die or the end of the policy term - whichever is sooner.
  • There’s often a waiting period before the payments start - you generally set payments to start after your sick pay ends, or after any other insurance stops covering you. The longer you wait, the lower the monthly premiums.
  • It covers most illnesses that leave you unable to work - either in the short or long term (depending on the type of policy and its definition of incapacity).
  • You can claim as many times as you need to - while the policy lasts.

It’s not the same as critical illness insurance, which pays out a one-off lump sum if you have a specific serious illness.

It’s not the same as short-term income protection, which also pays out a monthly sum related to your income, but only for a limited period of time (normally between two and five years) and can cover fewer illnesses or situations.

Do you need it?

According to the ABI, one million workers a year find themselves unable to work due to a serious illness or injury.

It doesn’t matter whether or not you have children or other dependants – if illness would mean you couldn’t pay the bills, you should consider income protection insurance.

You’re most likely to need it if you’re self-employed or employed and you don’t have sick pay to fall back on.

Check what your employer will provide for you if you’re off sick.

Payment Protection Insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against the loss of income.

Contact Our Insurance Advisers Today

Contact Russell Financial Solutions in Rayleigh today to receive our expert guidance and insurance advice.

Get in touch

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  • Kerry Slater
    Very happy with the service we have received! Very quick replies to emails and proactive in helping with the whole process. Not just the mortgage service included but also life and home insurance services too! Many thanks to Jack Johnson and Glen for their help specifically, will continue to use them both in the future :)
  • Hayley Thirkettle
    From day 1 glen and his team showed commitment and such a professional standard. He made sure all my questions and concerns were dealt with promptly. He made getting my first mortgage / property a breeze... highly recommend.
  • Joanna Kurn
    Fantastic service. Found the best deal for our remortgage in very quick time. All went through with no problems. Helped with all the documents we needed and informed us when we had completed on the mortgage. Would highly recommend.
  • Paul Addison
    Brilliant Service, from the initial phone call with Glen, to emails with Maxine it was very easy and painless. Got a great new deal , completed bang on time, and cannot find any fault at all. Would highly recommend, and will back when this deal is due to expire!!
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