Why Consider Income Protection Cover?
According to figures published by The Health Foundation, around 2.5 million people in the United Kingdom live with a long term health condition that prevents them from working and earning a living—that’s approximately 1 in 15 working age adults. In addition, an estimated 1.2 million people experience a work limiting condition that directly affects the type or amount of work they can do.
This means that around 10% of the UK’s working-age population face income disruption due to health-related issues. When combined with the pressures of the cost of living crisis, it’s clear that having a tailored income protection policy in place can offer valuable financial support.At Wealthmax, we help individuals explore income protection options suited to their needs, providing guidance to support financial resilience during uncertain times.
Conditions Commonly Covered by Income Protection
Income protection provides a financial safety net if you're unable to work due to illness or injury for an extended period (typically four weeks or more). A standard income protection policy covers loss of income resulting from medical conditions but does not provide cover for unemployment due to redundancy or dismissal. If your GP confirms that you're unfit for work, you may be eligible to claim—subject to policy terms and any exclusions. However, securing the right level of cover that pays out when you need it is something best discussed with your Wealthmax adviser. Some of the most common reasons for income protection claims include:-
Back and Joint Problems
Bad backs and joint problems, which can also include chronic conditions such as arthritis
Accidents leading to disability
Support if an accident leaves you with a lasting disability
Torn ligaments, ruptured tendons and broken bones
Help during bone and muscle injuries
Chronic conditions that affect your ability to work
Support when health issues impact your daily work life
Hospitalisation
Assistance with expenses and care during your hospital stay
Recovery from surgery
Support while you heal after surgery
FAQs
Looking for Income Protection Cover?
Wealthmax is here to help. Our advisers are experienced in income protection and can design a plan tailored to your lifestyle and financial needs. Contact us today to secure the right cover and support your financial stability if you are unable to work due to illness or injury.