Top 5 income protection deals

Money Saving Advisors Summary

Legal & General offers flexible income protection with up to 60% of gross annual income coverage (capped at £60,000/year). For higher earnings, the policy covers 50%. The plan provides tax-free monthly payouts if you’re unable to work due to illness or injury, with adjustable benefits and added Wellbeing Support.

Cover Available

• Maximum Monthly Cover: Legal & General offers up to £20,000 per month (£240,000 annually) for level cover. For increasing cover, it’s £14,000 per month (£168,000 annually).
• Benefit Amount: Up to 60% of gross annual income (max £60,000/year), then 50% for higher earnings.*
• Deferred Periods: Flexible options include 4, 8, 13, 26, or 52 weeks, allowing you to tailor how long you need to wait before receiving benefits.
• Low Start Option: There’s a Low Start Income Protection option, which provides lower initial premiums that increase over time.
• Optional Benefits: Fracture cover and private diagnostics can be added for an extra cost.

Eligibility criteria

• Minimum Age: 18 years old.
• Maximum Age: Clients must purchase a plan before their 60th birthday, and the policy must end between their 50th and 70th birthday (depending on occupation).
• Employment Status: Must be employed for 16+ hours a week. Not available for those who are unemployed at start of policy.
• Uses: Covers incapacity due to illness or injury.

Key Features

• Payouts: Tax-free monthly payouts until you return to work or policy ends.
• Coverage Flexibility: Changes to benefits can be made over time.
• Wellbeing Support: Access to nurse-based services for health advice.
• Rehabilitation Services: Helps facilitate a return to work.
• Income Guarantee: Provides £1,500 monthly for employed and self-employed clients, and £3,000 for NHS professionals.
• Waiver of Premium: Included as standard, premiums are waived during a claim period.
• NHS Sick Pay Protection: For NHS staff, including dentists and doctors.
• Linked Claims: Ensures that a new claim related to a previous condition doesn't require starting the deferred period over.

Money Saving Advisors Summary

Aviva Income Protection+ provides comprehensive cover, paying up to 65% of your gross income, with a maximum benefit of £240,000 per annum. The policy is flexible, offering various options for the benefit amount, waiting periods, and term lengths. Key features include a waiver of premiums during claims, hospital and trauma benefits, and support services through the Aviva DigiCare+ app. It also includes a unique 'Life Change Benefit' that allows you to increase coverage in response to significant life events without additional medical questions.

Cover Available

• Maximum Monthly Cover: Aviva covers up to £20,000 per month (£240,000 annually). Benefits are calculated as 65% of the first £60,000 of gross earnings and 45% thereafter.
• Benefit Amount: Up to 65% of gross annual income, capped at £240,000 per year.*
• Deferred Periods: Choose from 4 weeks to 104 weeks before benefits commence.
• Low Start Option: Available, offering lower initial premiums that increase over time.
• Optional Benefits: Fracture cover and private diagnostics can be added for an extra cost.

Eligibility criteria

• Minimum Age: 18 years old.
• Maximum Age: Clients must purchase a plan before their 60th birthday, and the policy must end between their 50th and 70th birthday (depending on occupation).
• Employment Status: Must be employed for 16+ hours a week. Not available for those who are unemployed at start of policy.
• Uses: Covers incapacity due to illness or injury.

Key Features

• Payouts: Tax-free monthly payouts until you return to work or policy ends.
• Coverage Flexibility: Changes to benefits can be made over time.
• Wellbeing Support: Access to nurse-based services for health advice.
• Rehabilitation Services: Helps facilitate a return to work.
• Income Guarantee: Provides £1,500 monthly for employed and self-employed clients, and £3,000 for NHS professionals.
• Waiver of Premium: Included as standard, premiums are waived during a claim period.
• NHS Sick Pay Protection: For NHS staff, including dentists and doctors.
• Linked Claims: Ensures that a new claim related to a previous condition doesn't require starting the deferred period over.

Money Saving Advisors Summary

AIG Life offers flexible Income Protection with coverage up to 80% of pre-incapacity earnings, ensuring financial security in the event of long-term illness or injury. The policy is highly adaptable with options to customise coverage based on personal and professional circumstances, including protection of pension contributions and National Insurance contributions.

Cover Available

• Maximum Monthly Cover: AIG Life allows for a maximum benefit of £350,000 per annum, which is 80% of pre-incapacity earnings, inclusive of pension contributions.
• Deferred Periods: AIG Life offers deferred periods ranging from 4 weeks up to 104 weeks, providing flexibility based on the individual's needs.
• Limited Payment Period: AIG allows limited payment periods of 2, 3, 4, or 5 years, with the option to continue coverage until retirement age or a maximum of 70 years old.

Eligibility criteria

• Minimum Age: 18 years old.
• Maximum Age: Coverage can extend to a maximum of 70 years old, depending on occupation and plan specifics.
• Employment Status: Must be employed or self-employed, with a policy tailored to work hours and employment status. Eligibility for some features, such as the benefit guarantee, requires working at least 16 hours a week.

Key Features

• Income Replacement: AIG Life pays up to 80% of pre-incapacity earnings, including pension contributions and National Insurance contributions.
• Escalation Options: The benefit can increase annually by 3%, 5%, or be linked to the Consumer Price Index (CPI) or Retail Price Index (RPI) up to a maximum of 5%.
• Hospitalisation Benefit: AIG provides £100 for each night of hospitalisation after six consecutive nights, up to 90 nights during the policy term.
• Trauma Benefit: AIG Life pays up to six times the monthly benefit or £40,000, whichever is lower, if you experience severe trauma such as blindness or limb loss.
• Return to Work Support: Vocational rehabilitation services and back-to-work support are provided to help you return to your previous or a new role with reduced benefits to supplement the income loss.

Additional Benefits

• Waiver of Premium: During a claim, AIG waives premiums until you are fit to return to work.
• Life Change Benefit: You can increase coverage without medical underwriting for life events such as marriage, birth of a child, or salary increase by 20%.
• Global Coverage: AIG Life covers employees seconded outside the UK, ensuring protection for those working abroad.

Money Saving Advisors Summary

Vitality offers flexible Income Protection with coverage up to 60% of your gross income. The policy provides comprehensive options for adjusting your cover and includes additional support services to aid your recovery. Vitality’s unique approach rewards you for staying healthy, with up to a 20% boost in your monthly payout based on your Vitality status at the time of the claim.

Cover Available

• Maximum Monthly Cover: Up to 60% of your gross annual income, which can be adjusted based on your needs and lifestyle.
• Deferred Periods: A wide range of deferred periods from 1 month to 12 months, allowing you to align your cover with employer sick pay.
• Benefit Term: Vitality offers long-term cover until retirement or policy end, with short-term cover options for a fixed duration of 1 to 2 years.

Eligibility criteria

• Minimum Age: 18 years old.
• Maximum Age: Coverage typically lasts until retirement or the end of the policy term.
• Employment Status: Available for employed, self-employed, and those with dependents who rely on their income.

Key Features

• Income Replacement: Covers up to 60% of gross annual income, providing a monthly payout that is tax-free.
• Health-Based Payout Boost: Get up to a 20% boost on your payout for up to six months, based on your health activity with Vitality.
• Support Services: Access to healthcare services including physiotherapy, therapy, and cancer support to aid your recovery.
• Flexible Cover: Adjust your cover, waiting periods, and payment periods in line with significant life events such as marriage, childbirth, or salary changes.
• Rewards: Earn rewards such as gym memberships, spa breaks, and weekly coffee by engaging with Vitality’s healthy living programmes.

Money Saving Advisors Summary

Zurich Income Protection provides up to 80% of your take-home pay, with a comprehensive suite of benefits designed to support both your recovery and your return to work. Their coverage extends beyond financial aid, with rehabilitation services and the flexibility to adjust your policy based on life changes. It includes a guaranteed minimum benefit, making it a strong option for individuals needing reliable, adaptable protection against long-term illness or injury.

Cover Available

• Maximum Monthly Cover: Zurich offers up to £20,000 per month or 80% of gross annual earnings, whichever is lower
• Deferred Periods: Flexible options from 4 weeks to 104 weeks to align with sick pay arrangements.
• Benefit Term: Choose between full-term benefit (up to policy end) or a limited benefit period (up to two years per claim).

Eligibility criteria

• Minimum Age: 16 years old.
• Maximum Age: 64 at policy start, with coverage lasting until age 69.
• Employment Status: Must be employed or self-employed and registered with a UK General Practitioner for at least two years.

Key Features

• Income Replacement: Zurich provides up to 80% of net earnings, with a minimum monthly income guarantee of £1,500.
• Rehabilitation Support: A dedicated team of nurses, mental health specialists, and physiotherapists provide personalised recovery plans.
• Waiver of Premium: Zurich waives premiums after 13 weeks of illness or injury, or at the end of the deferred period, whichever is earlier.
• Return to Work Package: Includes phased return support, financial top-ups for reduced hours, and help if you transition to a lower-paid role.
• Maternity, Paternity, and Adoption Benefit: Coverage continues as though you’re working if you fall ill during leave.
• House Person Benefit: Provides up to £1,500 per month if illness or injury stops you from doing two of five daily living tasks, even if you’re not working at the time.