Income Protection cost
How much does Income Protection cost?
Income Protection can be quite flexible and the options you select will impact the premiums payable, for example:
- The percentage of your income you cover
- The length of time you wish to be covered
- The waiting period before the payment starts
- Your occupation – your job affects your premium as some occupations are higher risk than others
- Your age
- Smoking status
- Your health & family medical history
Tax relief is available on income protection premiums paid up to certain limits and can reduce the cost of your cover by up to 41%.