Income Protection Insurance: Secure Your Income, Protect Your Home
Your income is your most valuable financial asset. It pays your mortgage, covers your household bills, and supports your lifestyle. But what happens if an accident, injury, or unexpected illness stops you from working?
Income Protection Insurance provides a tax-free regular monthly payout if you are medically unable to work, ensuring you can keep up with mortgage repayments and daily living costs until you get back on your feet.
Why Income Protection Matters in the UK
Many UK homeowners assume that state benefits or employer benefits will cover them if they fall ill. However, the reality is often quite different:
Statutory Sick Pay (SSP): Statutory Sick Pay is set at £123.25 per week (or 80% of your average weekly earnings, whichever is lower) for up to 28 weeks. For most households, this isn't enough to cover a mortgage, let alone utilities and food. (Source: GOV.UK - Statutory Sick Pay Rate)
Limited Employer Sick Pay: While some employers offer full pay for a few months, nearly half of UK employers provide only the statutory minimum.
Self-Employed Risks: If you are self-employed, a freelancer, or a company director, if you don't work, you don't get paid. There is no employer safety net.
Bottom Line: Income Protection bridges the gap between your usual income and government support, ensuring your home and family remain secure.
Income Protection Specifically for the Self-Employed
If you work for yourself, a period of illness or injury that prevents you from working often means an immediate reduction in your regular revenue.
Because self-employed individuals do not have access to corporate sick pay schemes, establishing personal protection can be a crucial step in safeguarding your financial commitments. We provide tailored advice to structure coverage effectively based on your exact business set-up:
Sole Traders: We can explore options that base your monthly coverage level on your net profit.
Limited Company Directors: We can seek to arrange coverage that takes into account both your regular salary and your dividend payments, ensuring your true earnings are accurately reflected.
Contractors: Depending on your contract terms, we can frequently look to protect a specified portion of your baseline contract value.
We can help you construct a practical financial buffer designed to support your household commitments, helping to keep your home protected even if you are unable to work.
Get Expert Advice Tailored to Your Budget
Finding the right policy depends on your job role, health history, budget, and employer benefits. At I J Mortgage Solutions, we search a carefully selected panel of top UK insurers to find the right cover for your household.
Ready to protect your income and keep your home secure?
👉 Book a Free Protection Review
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✉️ Email our advisers: info@ijmortgages.co.uk
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© © 2025 I J Mortgage Solutions Limited is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority. Our FCA number is: 1052669.
Registered Office: I J Mortgage Solutuons Limited, 17 Blackley Close, Warrington, WA4 1JA. Registered Company
Company Number: 16424810 Registered in England & Wales
There may be a fee for arranging a mortgage and the precise amount will depend on your circumstances. This will typically be £399