Income Protection Insurance
World Class Income Protection Insurance
Are you one of the many who have income protection but aren't entirely sure who your policy is actually with? Or perhaps you're unclear on the exact steps to take if you ever needed to make a claim? You're not alone. Many people find the details of their income protection cover a bit of a mystery until they really need it, which can add unnecessary stress during a difficult time.
With Goodniss income protection, you gain peace of mind not only from the comprehensive cover it provides but also from the clarity and support we offer. We understand the importance of knowing exactly who to contact and what the claims process involves. That's why we ensure you have clear and accessible information about your policy and how to get in touch when you need us most.
Goodniss is proud to be associated with market-leading income protection providers. This means you benefit from robust and reliable policies backed by established and reputable names in the industry. We've carefully selected our partners to ensure you receive high-quality cover and a smooth, supportive experience, should you ever need to make a claim. Don't leave your financial security to chance or confusion.
Choose Goodniss and gain the confidence of knowing your income protection is in good hands, with clear pathways for support when life throws the unexpected your way.
Contact Us
If you are interested in becoming a client or you would like to learn more about our services, then we would be delighted to hear from you.
What is Income Protection Insurance?
Income Protection is an insurance policy that covers part of your income if you are unable to work due to illness or injury. If you need to make a claim, it pays a monthly benefit.
Who can apply?
Our Income Protection insurance is available to those who are employed or self-employed, aged between 16 and 60. Applicants must be UK taxpayers, have a UK bank or building society account, and have been registered with a UK medical practice for at least three years. Note that coverage is not available for certain occupations – we verify if you are eligible at the quote stage of our application process.
What does Income Protection cover?
Income Protection works by providing a monthly income if you can’t work due to illness or injury. The monthly cost of this is based on your salary, how much you’d like to cover, and a few other things such as your chosen ‘waiting period’.
What is a waiting period?
A waiting period is how long you’d like to wait before being paid, which usually coincides with the sick pay you may receive from your employer. For example, if your company sick pay lasts for three months, our Income Protection Insurance would kick in at this point, to ensure you can receive a regular monthly income if you are unable to work through illness or injury. If you’re self-employed, you can choose a waiting period that suits your circumstances, starting from one week.
How much of my income can I insure?
We will verify this during the quote stage.
How long will I paid for in the event of a claim?
You can choose Income Protection that means you can claim for either one year or two years. This means that if you suffer from an illness or injury that means you’re unable to work, you’ll be paid for a maximum of one or two years before you stop getting paid, depending on your plan. You can make multiple claims throughout the term of your plan.
How long can I be covered for?
The minimum term for a plan is five years, with the maximum being limited by your age. Cover will stop when you reach the age of 70.
What is the difference between Income Protection & Critical Illness Cover?
Critical Illness Cover pays out a lump sum on the diagnosis of a critical illness, usually from a list of specific conditions that are predefined. Income Protection provides monthly payments if illness or injury prevents you from working, to help cover ongoing expenses like mortgage or rent.
Need some advice?
IMPORTANT INFORMATION
It is crucial to understand that Income Protection insurance products are subject to specific terms and exclusions. These policies are not a blanket guarantee of income replacement, and the circumstances under which you can claim, the duration of payments, and the amount you receive are all defined by the policy's fine print. Before committing to any income protection insurance, you must carefully review the Product Disclosure Statement (PDS) or policy document. Pay close attention to definitions of "disability" or "incapacity," waiting periods before benefits commence, any limits on the payout period, and a comprehensive list of exclusions. Exclusions might include pre-existing medical conditions, certain types of illnesses or injuries, or circumstances arising from dangerous activities. Failure to understand these terms and exclusions could lead to disappointment and financial hardship when you most need the protection. If anything is unclear, seek professional advice from a qualified financial advisor.