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020 7112 8842


93-95 Gloucester Place,

London W1U 6JQ, United Kingdom.

Unit 4 Arlington Court,

Business Park, Stevenage SG1 2FS


A guide to Income Protection Insurance

Income protection insurance helps cover your living costs in cases where you are no longer able to work due to illness. Unlike Accident, Sickness, and Unemployment (ASU) insurance, which usually only pays out for a period of one or two years, Income Protection insurance will continue to pay out until you start working again, until you retire, or until the end of the policy term. If you die, the payments will stop rather than go to your family.

As with all financial products, it’s best to get help from an independent financial adviser, such as Oracle, who can give you all the information on Income Protection Insurance you need, as well as finding you the best possible deal.

Who needs income protection insurance?

You should take a look at your income and living costs, and work out whether you would still be able to pay your costs if your income stopped due to not being able to work because of an illness.

If you think you wouldn’t be able to cope without your current income, it is advisable to buy an Income Protection policy.

An independent financial adviser such as Oracle will be able to help you work out whether purchasing Income Protection Insurance is right for you.

Who doesn’t need income protection insurance?

Even if you are self-employed, or employed without any sick pay, you may still be in a situation in which you might not need to purchase Income Protection Insurance. You might, for example, be able to afford to take early retirement if you are near that age, or you might be in a position where you can be supported by your family. It could also be that you can survive on sick pay from your employer, or on government benefits.

An independent financial adviser can help you work out whether or not you need Income Protection Insurance.  

What affects the cost of the price of your policy?

Since Income Protection pays out if you become unable to work due to illness, the price of any policy will be based on your current health and things affecting it, such as age and whether you smoke and drink. It will also depend on your job and the percentage of your income you want to cover.

Finding the best income protection deals with Oracle’s independent financial advisers

Having trouble deciding whether Income Protection Insurance is right for you? Call Oracle now on 020 7112 8842 or send an email to get in touch with an independent financial adviser who can help work out if Income Protection Insurance is right for you, and then find you all the best policies from across the whole market.