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Income Protection Insurance

Our Income Protection insurance covers you and your family against loss of your regular income due to sickness or injury

No matter what line of work you’re in, employed or self-employed, it’s important to consider how you and your family would cope if an absence from work through sickness or injury meant your regular income was lost.

Monthly bills would still need to be paid, and without considerable savings in place to cover expenses, you could find yourself in trouble financially. Shepherds Friendly Income Protection provides straightforward and flexible cover to ensure you’ll continue to receive a regular tax-free monthly income throughout any period of absence. Premiums start from as little as £5 a month* and can be varied to suit your changing circumstances.

Features of our Income Protection Insurance

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Who can apply for Income Protection?

Anyone from age 16, and the benefit can be paid right up to 68, whether you are self-employed or employed by someone else. Cover can start from as little as £5 a month, this is our minimum premium, and your plan should last at least 5 years, which is our minimum term. You can apply for income protection no matter what your profession may be. The only other requirement is that you have been registered with a UK medical practice for at least three years.

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Can I get the plan if I work in a high-risk job?

Regardless of what your career is, we will consider your application for our Income Protection. We take each application on an individual basis and acceptance is based on your specific circumstances. We also do not rate on occupation, meaning that your premium will not be higher if you work in a riskier job.

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What is covered by the plan?

If you are employed we can cover up to 70% of your regular gross income. If you are self-employed you can cover up to 70% of your net profit. Benefits will be paid to you monthly free of tax. You can also select to include inflation cover.

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Can I change my premiums and level of cover once I’ve applied?

Our guaranteed insurability option allows you to increase your level of cover when certain life events such as the birth of a child or marriage take place, to allow you to cover up to 20% more of your income, provided you stay below the maximum 70%. You can also vary your level of cover as you please when your circumstances change throughout the term of your cover, for example when you get a new job.

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How long will it take to get an acceptance decision?

Our interactive underwriting means you could get a same-day decision on acceptance for our Income Protection, meaning you may not have to have a medical interview conducted either. If we do need to find out a little more about your medical history, then you can book your medical interview online quickly and easily.

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Will my income from the Income Protection be taxed?

No, you will receive all benefit payments completely tax-free.

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How does the deferred period work?

The deferred or “waiting” period is the length of time after you become ill or have an injury that you choose to wait before you start receiving benefits from us. You can choose your chosen waiting period (between 2 weeks and 52 weeks) when you take out your plan, and you can change or adjust this during the life of your plan.

Your chosen waiting period may depend on whether you are likely to receive some income from your employer during the early stages of your absence from work, and how long this may last for. As well as this, if you feel you have sufficient savings to see you through for a certain number of weeks, then you could also factor this in to your decision. Typically, the longer you set as your waiting period, the lower your monthly premiums will be.

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How long do the benefits last after I’ve made a claim?

You can look forward to receiving your full monthly benefits as agreed in your plan until you return to work, regardless of how long this takes.

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Do I still have to pay if I take a career break?

If you decide to stop working or are forced to stop working for a period of time between three and 24 months we will suspend your plan until you return to work, and during this time you will not have to pay your premiums.

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How much does Income Protection cost?

The amount you pay monthly will depend on the level of monthly benefit you would like to receive and the deferred period you choose. There are no increases in premium for higher-risk occupations, and we will not increase your premium after medical underwriting has taken place.

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Can I add inflation cover and waiver of premium to my plan?

When taking out your plan you can choose to have your premiums and your level of benefits increased in line with the Consumer Price Index to help cover the rising costs of living. A waiver of premium is also included in the plan, meaning that no further premiums will be collected from the end of your deferred period (plus one month) until you return to work.

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How to make a claim

When you think you may need to make a claim you can contact our customer services team on 0800 526 249 and they will explain the process and send you a claims form. They will require evidence of your earnings and your state of health.

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How to buy Income Protection

You can get a quote online quickly and easily by using the quote tab at the top of this page. From there you can either apply for the plan online, or you can call a member of our customer services team for help with the application process on 0800 526 249.

How to buy Income Protection: You can open a plan online quickly and securely by clicking the button below:

Alternatively, if you would like assistance in applying or would like more information regarding the plan, you can speak to a member of our customer services team by calling 0800 195 2170


  • If you stop paying your premiums under this plan your benefit will cease and the plan will be cancelled.
  • Failure to review your plan may result in you being unable to claim the full amount.
  • If you cancel the plan you will not receive any money back.
  • Benefits received from this plan may affect your entitlement to any other benefit.
  • For the self employed it is 70% of the evidenced net profit stated in your accounts which will be used to calculate the benefit we can pay in the event of a claim.

*Male aged 32 with a waiting period of 26 weeks, £258 of cover, premium of £5

All references to taxation are to UK taxation and are based on Shepherds Friendly Society's understanding of current legislation and H M Revenue and Customs practice which may change in the future. For our With Profits plans investment growth is by means of bonuses, the amount of which cannot be guaranteed throughout the term of the contract. Please ensure that you read the full terms and conditions of this plan which are available from your financial adviser or by contacting us directly.