Income protection provides you with a regular income if you’re unable to work due to illness or injury. It replaces part of your salary, so you can focus on recovery rather than worrying about bills.

Typical policy features include:

• A deferred (waiting) period before payments begin — usually 4, 8, 13, 26 or 52 weeks.  The most suitable length for a deferred period will depend on whether you have existing sick pay arrangements through work, and how long these will pay out for, as well as the amount of time you’d be happy to live off your savings and other investments for.   The longer the deferred period, the lower your premiums will be
• A benefit amount — normally between 50% and 70% of your gross income, depending on the provider
• Payments that continue until you return to work or until the policy ends (often up to your chosen retirement age)
• The ability to make multiple claims over the policy lifetime if new illnesses or injuries arise
• Tax-free payments (because you pay premiums from your net income)

In 2023, UK insurers paid out record amounts in income protection and related claims, highlighting how valuable this type of cover can be. (Source: Association of British Insurers, 2024)

Not everyone needs or can afford a policy that pays until retirement — and that’s where short-term income protection comes in.

Short-term income protection typically pays out for 1 or 2 years per claim, but allows multiple separate claims if you later recover and return to work.

It’s often a more affordable option, and ideal if: - 

• You want protection mainly against medium-term conditions like recovery from surgery or mental health breaks
• You don’t need cover to last until retirement — just long enough to get back on your feet, or to give you breathing space and time to make clear, unrushed decisions about your future without financial pressure.

At Taylor James Financial Services, I’ll help you weigh up the pros and cons of short- versus long-term policies to find the right balance of cost, cover, and peace of mind

Many insurers now include free additional benefits with income protection policies, providing practical and emotional support even if you never make a claim. Depending on the provider, these may include:

• 24/7 online GP appointments
• Mental health and wellbeing support
• Physiotherapy or rehabilitation sessions
• Nutritional and fitness guidance
• Second medical opinions
• Specialist nurse helplines

These services can be used at any time during your policy and offer extra reassurance that support is available when you need it most.

When you speak to Taylor James Financial Services, you’ll deal directly with me — your adviser. My role is to make life assurance advice simple, clear, and personal.

Here’s how I’ll help:

• Understand your full financial situation, your outgoings, your current provisions, any savings you have and will explain exactly what the risks you face are if you were to be off work for a prolonged period of time, and ensure that these risks are properly managed
• Compare policies from across the market and explain your options to you clearly — in plain English, without jargon or sales pressure
• Tailor your policy to your budget and protection needs
• Handle the application and paperwork, all the way from application until your cover is in place
• Review your cover over time to ensure it remains suitable

• Independent, whole-of-market advice — not tied to any insurer, meaning that we’re giving you access to the best products and insurers, based on your specific needs and circumstances
• Personal service — you deal directly with me, your adviser
• Clear, jargon-free guidance
• Flexible options to suit your budget and priorities
• Ongoing support and policy reviews
• Access to insurers that provide added wellbeing and support services.