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Income Protection Insurance

Income Protection Insurance from Shepherds Friendly

Providing financial security for yourself or your family is likely to be a top priority, and part of doing this will be ensuring that you can maintain your essential monthly bill payments, like your mortgage or rent, utilities, insurance policies or credit agreement repayments.

But have you thought about how you might keep these up in the event that sickness or injury prevents your form working, and you lose your regular income? Our income protection insurance is designed to pay you a monthly, tax-free income in this event that you can use to keep pace with your essential payments.

We have three plans to choose from that allow you to protect either up to 70% of your regular monthly income, 150% of your monthly mortgage payments or 125% of your essential monthly household bills.

Here is a quick summary of our plans to help you make your mind up:

Simple Income Protection
Cost: From £5/month, dependent on your age and your level of cover
What is covered? Up to 70% of gross monthly income
Maximum monthly tax-free benefit: £4,083
Acceptance conditions: Aged from 16 to 59, employed of self-employed. Based on acceptance from medical underwriting
Waiting period: 2 weeks - 52 weeks
Payout terms: Accident and sickness
Benefits paid for: Until plan ends or until the insured returns to work
Inflation option? Yes
Simple Income Protection

Income Protection Plan

Our Income Protection Plan aims to take the confusion out of buying an income protection policy. We don’t rate your application on whether you do a high-risk job meaning premiums could be lower, and the premium you’re shown on your quote will not be ‘loaded’ after the results of your medical underwriting. This means you’re shown exactly what you’ll pay for your cover from the outset.

You can apply for the plan online, or you can call one of our professional financial advisers for help with the application, or to simply ask any questions you have about the plan.

Why choose us for Income Protection?

We believe that when you protect something as important as your income or your essential monthly payments that you should choose an insurer you can trust and that has your best interests at heart.

Founded in 1826, we’re one of the oldest financial mutual societies in the world, and have a long and proven track record of protecting families’ finances. We also offer products and information that we believe are clear, fair and not misleading, and pride ourselves on offering excellent customer service. That’s why 91% of our members would recommend us to a friend.

We also have an exceptional income protection claims payment record, which stood at 95.8% in 2014.