Best income protection insurance policies

Please note, each provider has a different range of insurance products, offering different levels of cover. We cover some of the main benefits of going with one of the providers listed below, but these may not apply to all policies with that provider. The providers in this blog post have been ranked by our protection and insurance team.

If you want an expert’s help finding the right cover for you, you’re in the right place. At Tembo, our in-house team of award-winning advisers can compare policies from the UK's leading coverage providers to find the right cover for you and your family.

Top 5 income protection policies:

1. LV

LV’s income protection policy offers an on-going, regular benefit up to 60% of your income, as well as back to work support and career break options. They also include a £1,500 benefit guarantee so you can get support even if you’re self-employed, rely heavily on commission and bonuses or your salary takes a hit.

The policy also comes with rehab support services to help you return to full health as soon as possible, and fracture cover at no extra cost (lump sum payment up to £2,200, depending on the type of bone fracture).

For those with families, you’ll be glad to know that LV’s income protection insurance also comes with a death benefit of up to £10,000. This means if you die within four years of your policy start date, they’ll pay £5,000 to your loved ones, or £10,000 if you die four or more years after the policy starts. It also comes with parent and child cover, where they’ll pay a lump sum if your child is diagnosed with any of the qualifying illnesses, operations or medical procedures.

2. The Exeter

One of the limiting factors when applying for income protection tends to be your health. With The Exeter’s income protection, there is no routine medical evidence required for applicants under 42 years old, regardless of the benefit amount you choose. Their policy also covers a wide range of jobs, from desk workers to those in manual work or skilled trades. Plus, if you’re an NHS medical professional or teacher, The Exeter’s income protection insurance offers flexible waiting periods so you can receive a payment that works with your sick pay arrangements.

Similar to other income protection policies, The Exter allows you to claim up to 60% of your taxable income, if you earn less than £100,000 per year. If you earn more than this, you can claim up to 60% of your taxable income up to £100,000, and 40% of any income over the £100,000 threshold.

They also give you the option of choosing a short claim period of either 2 or 5 years, which can help you to dramatically reduce your premiums. Another extra feature is the free access to the HealthWise app, which provides you with quick medical advice and treatments including remote GP appointments, physiotherapy, mental health support as well as lifestyle and nutrition consultations.

3. Aviva

Aviva is a well-known name when it comes to income protection and has been providing people with coverage for over 325 years. Despite being an established name, their Living Costs Protection cover differs slightly from traditional income protection because it does not require proof of earnings, making it a good choice for those who are self-employed or have fluctuating income. Your premiums are guaranteed, so you’ll get a fixed monthly payment if you can’t work due to illness or injury for up to 12 months, with the coverage amount set between £500-£1,500.

Plus as part of the policy, you’ll get their back-to-work benefit, which is one month’s benefit when you return to work, even if your illness or injury means you earn less than you did before.

There is also a range of free health and wellbeing services you’ll get access to through the Aviva DigiCare+ app. Annual health checks, nutrition, bereavement and mental health support, and access to Bupa Anytime HealthLine all come included, as well as optional add-on extras you can choose to pay for.

4. Cirencester Friendly

Cirencester Friendly’s My Earnings Protected income protection allows you to claim up to 65% of your salary for those who earn up to £85,000 per year. You can choose between long-term and short-term claim periods, giving you more options to make your income protection premiums more affordable and to suit your needs.

Similar to other providers, you’ll get personalised health and wellbeing advice as part of your policy provided through Your Halo. This gives you access to physical wellbeing, food & nutrition, sleep and exercise support. You’ll also have access to Virtual GP service through GP24, while their confidential Friendly Voice phone service connects you with a Personal Nurse, who can provide you with practical help, emotional support, therapies and second medical opinions.

You can also opt to add on Children’s Critical Illness Support to your policy, so if your child falls ill with one of their ten qualifying illnesses, they’ll provide you with a lump sum of £2,500.

Lastly, Cirencester Friendly provide a whole range of discounts and offers on popular brands which you can make the most of, including M&S, EE, Apple and Halfords. You can also save on cinema tickets, gym membership and your weekly grocery shop!

5. Zurich

Last but not least, Zurich’s Income Protection provides you with monthly payments that cover up to 80% of your take-home pay if you are unable to work due to illness or injury. As well as the financial help, they also offer a plethora of health and wellbeing support as well, including access to rehabilitation nurses, mental health specialists and physiotherapists.

Included as part of the policy is their career break options, and Return to Work package, which will top up some of your salary difference for up to two years if you earn less than your normal salary when you return to work.

If you take time off to be with a new baby and become ill during this period, Zurich will also cover you as though you’re working through their Maternity, paternity and adoption benefit.

There is also a range of additional benefits which you can add on for an additional cost, such as family carer, funeral, hospital stay and trauma benefit.