Income Protection
For most people, their income is what keeps everything else moving — from paying the mortgage and bills to supporting their family and maintaining their lifestyle.
Advice, made personal
Protect your income when you can't work.
For most people, their income is what keeps everything else moving — from paying the mortgage and bills to supporting their family and maintaining their lifestyle.
If an illness or injury prevents you from working, losing that income can create significant financial pressure. Income protection is designed to provide an ongoing monthly benefit when you’re unable to work due to a covered illness or injury.
At Aegis, we help you understand how income protection works, how much cover may be appropriate for you and which options may suit your circumstances.
How Aegis can help
Income protection can be one of the more complex types of personal insurance, with different insurers offering different benefit structures, definitions and policy terms. Being self-employed also can change the whole structure from a taxation point of view.
We’ll take the time to understand your circumstances and what you want your cover to achieve.
We’ll explain the options in straightforward language, help you compare suitable policies and highlight the key differences, including benefit amounts, waiting periods, benefit periods, definitions and premiums.
We’ll then guide you through the application and underwriting process and remain available to help as your circumstances change.
What’s Included
- Assessment of your Income Protection needs
- Advice on appropriate cover amounts and policy structure
- Comparison of suitable insurance providers
- Guidance on benefit periods, wait periods and policy features
- Ongoing service and reviews of your cover as circumstances change
How it works
Income Protection
Common Questions
Your ability to earn an income is one of your most valuable financial assets.
While savings can provide a short-term buffer, they may not be enough to cover your ongoing expenses if you're unable to work for an extended period.
Income protection can provide a regular monthly payment when you're unable to work due to a covered illness or injury, helping you continue meeting your financial commitments while you focus on your recovery.
Your benefit could help with:
- Mortgage or rent payments
- Household bills and everyday expenses
- Groceries and other living costs
- Loan and debt repayments
- Supporting your family
- Maintaining your usual lifestyle
- Allowing you to focus on your recovery without the immediate pressure of returning to work
Income protection can be particularly important for people who rely heavily on their employment or business income and don't have significant savings or other financial resources to fall back on.
The amount of income protection you need will depend on your income, financial commitments and personal circumstances.
We'll look at your current income and expenses, your existing savings and insurance, your mortgage and other debts, and how long you could comfortably manage without your usual income.
We'll also consider how much of your income you would want to replace if you were unable to work.
It's important to understand that income protection policies can differ in how they define disability, how benefits are calculated and how long payments can continue. We'll help you understand these differences when considering your options.