See if you qualify for Income Protection and get a clear, free quote.

Why people consider Income Protection

A long period away from work can affect more than a monthly salary. Employer sick pay may end, savings can reduce and regular commitments continue. Income Protection is intended to provide part of an insured income after an agreed waiting period, subject to the policy terms.

It may be considered by:

• Employees whose sick pay would not meet their longer-term needs.
• Self-employed people who do not have employer sick pay.
• Households that rely heavily on one income.
• People with mortgages, rent, dependants or other regular commitments.
• Business owners or directors whose personal income remains important to household finances.

The decisions that shape a policy

1. 01

   Benefit amount

   Insurers normally limit the benefit to a percentage of eligible pre-incapacity earnings and a monetary maximum. Other income, employer sick pay or continuing payments may affect the amount payable.

2. 02

   Deferred period

   The deferred period is the time between becoming unable to work and benefit becoming payable. A longer deferred period may reduce the premium but requires other resources to bridge the gap.

3. 03

   Definition of incapacity

   Policies may assess whether a person can perform their own occupation, a suited occupation or specified activities. The precise definition materially affects when a claim may qualify.

4. 04

   Claim duration

   Some policies can pay for a limited period for each valid claim. Others may continue while the claim remains valid, up to the policy end age. This is not the same as a guaranteed payment to retirement.

5. 05

   End age

   Cover normally ends at a selected age. The chosen age should be considered in the context of expected working life and affordability.

6. 06

   Premium basis

   Premiums may be guaranteed, reviewable or age-related depending on the product. The current policy terms explain how and when premiums can change.

What it may cover — and what it may not

Income Protection can cover many illnesses and injuries when the policy's incapacity definition and other conditions are met. It does not simply pay because someone is absent from work.

Exclusions, waiting periods, earnings evidence, treatment obligations, occupation rules and other claim conditions may apply. Unemployment and redundancy are not normally covered unless a separate, expressly described benefit is included.

Underwriting

The insurer may consider health, occupation, duties, income, smoking, hobbies and other relevant information. Some conditions may be excluded, premiums may change, or the insurer may postpone or decline an application.

Everlife's initial forms do not ask for diagnoses, medication or medical history. Health information is collected only in the controlled adviser or insurer process, after you understand who will receive it and why.

Claims and returning to work

A claim is assessed against the policy definition, medical and occupational evidence, earnings information and other terms. Some policies include rehabilitation, proportionate benefits or support for a phased return to work. Availability and conditions vary by insurer.

Tax treatment

Tax treatment can depend on who owns and pays for the policy and whether it is a personal or employer-arranged contract. Do not rely on this page for tax advice. The policy structure and individual circumstances should be reviewed.

How Everlife helps

We consider your occupation, earnings, sick pay, existing cover, household commitments, preferred deferred period and affordability. We explain how the incapacity definition, claim duration and premium basis affect the cover. Any recommendation will be linked to the demands and needs identified.