Protect the income you’ve worked hard to earn

Could your family financially survive if your income was to stop today? When it comes to your finances, it pays to be prepared, and your financial security is paramount. With the help of the team at Affinity Advice, you can find peace of mind around your future, knowing you’re covered if you’re unable to earn.

Helping you make sense of income protection

At Affinity Advice, we pride ourselves on the relationships we build with our clients. Helping you find balance in your life and allowing you to enjoy yourself without uncertainty, we go the extra mile to find you the best policy.

We also make sure you understand everything that’s laid out in front of you and provide a single point of contact that’s always just a phone call or email away.

Providing a friendly face to make you feel at ease about protecting your income, we’ve helped countless people in Sunderland and Newcastle, and those from around the region, achieve financial security and confidence for their futures.

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What is income protection insurance?

Income protection insurance is a form of coverage that pays out a monthly sum in the case of an accident, illness or injury that prevents you from working.

From sporting injuries, bad backs, slipped discs, and mental health concerns to serious conditions like cancer, strokes, and heart attacks, you can find yourself safe in the knowledge that your finances won’t take a hit if you’re unable to earn what you usually would.

The amount you’ll receive will be in line with a percentage of your income, but it can be fully tailored around your preferences.

While it may sound like the case, income protection insurance isn’t just for the self-employed or those without employee benefits like sick pay in place. You can also opt for a deferred period, which defers payments being made for a set period after your claim.

Do I need income protection insurance?

If you have a job that your family relies on, or you have limited savings to cover you if you can’t work, then income protection insurance could be the answer you’re looking for.

Paying a regular monthly benefit if you can’t work, you can choose your level of protection and customise your coverage to suit you. With an expert alongside you, you can make the most of your protection in ways you may not have known existed.

Speaking of experts, here’s our three-step process to income protection:

It all starts with a conversation, and preferably, a nice cup of tea.

Here, we’ll discuss your circumstances and options, gaining an understanding of you as a person and what you need from income protection insurance.

Once we have the information we need, we go away and carry out research based on your situation

With access to a massive amount of products, we can assess what would be the best fit before coming back to you with your options.

With guidance from ourselves and a selection to choose from, we present your policy options.

Then, we finalise the protection that is the best fit and get you covered.

Income protection insurance FAQs

Is income protection worth it?
Income protection insurance is crucial if you don’t have enough savings to cover your wage if you can’t work. It’s also massive for those who only receive statutory sick pay at work, and can substantially boost your financial means if you need it.

Whether self-employed or on the books as a full-time employee, you can receive financial benefits and even defer payments for that extra cushion in difficult periods.
How much is income protection insurance?
Income protection insurance fluctuates based on your circumstances. From your income to your health, and many more variables, it’s best to speak to an expert to get an understanding of the costs of coverage.
Does income protection cover redundancy?
No, income protection insurance doesn’t cover redundancy in the UK. It only applies to health-related reasons for being unable to work, such as being diagnosed with an illness or injuring yourself physically.
Is income protection taxable?
Nope! If you pay for your own income protection insurance, income protection payments are free from tax in the UK. There’ll also be no National Insurance contributions to pay on this amount.

This is because you pay for premiums out of your net pay which are taxed, this means that the policy is seen as being taxed already in the eyes of HMRC, so no tax is due.

Protect the income you’ve worked hard to earn

What is income protection insurance?

Do I need income protection insurance?

Income protection insurance FAQs

Is income protection worth it?

How much is income protection insurance?

Does income protection cover redundancy?

Is income protection taxable?