Income Protection Insurance pays out a regular tax-free replacement income if you become unable to work because of illness or injury.

It could help you keep up with your mortgage repayments and other living costs until you’re able to return to work.

Policies have a waiting period before they pay out, which begins when you become unable to work. The longer the period chosen, the lower your premium. It’s a good idea to find out what your employer would pay you, and what state benefits might be available so you can choose an appropriate waiting period.

The premium you’ll pay will vary depending on your age, health and job, as well as the level of income you wish to protect.

If you become ill or suffer an injury during your working life, an Income Protection policy can help protect against any possible loss of income, and speed your return to work.