Protecting your income and lifestyle is so important. 

If you’re unable to work because of an accident or illness, an income protection plan will continue to provide a regular income to you and your family. It can help you protect your financial future.

At London FS, we’re a team of professional financial consultants who provide clear financial planning, advice, and guidance for high-income earners, professionals, company directors/LLPs with complex or multiple income streams.

We can help you to identify the right income protection policy to ensure you can maintain your lifestyle and financial freedom, whatever happens.

Learn more about what income protection is, what you’re covered for and how we can help you secure suitable income protection cover that can safeguard you, your family, and your future.

How does a life insurance policy work?

What is income protection insurance?

Income protection plans are a type of insurance product that can help you manage the financial burden if you’re unable to work, both for long-term and short-term cover. If you qualify, you’ll receive a regular monthly payment until you’re able to return to work, or until the policy ends (at retirement age, or your death).

Income protection insurance can cover you for many reasons that prevent you from working, including:

  • Accidents
  • Injuries
  • Illness
  • Disability

Most protection plans will not cover you for any loss of earnings as a result of job loss or redundancy. (Selected insurers may offer this at an extra cost.)

Income protection insurance is an essential investment that provides the foundation for financial planning, giving you confidence in your future. Without protection cover, even the best-laid financial plans can come unstuck as a result of an accident, injury, or illness.

We recommend that all of our clients consider income protection insurance.

A suitable income protection plan will:

  • Provide an agreed monthly income until you can return to work, reach retirement age, or die
  • Cover you from most illnesses, injuries, and accidents that can affect your ability to work
  • Safeguard your financial future and that of your family
  • Cover payments of essential debts, such as your mortgage
  • Enable you to continue to pay household bills
  • Allow you to claim multiple times throughout the lifetime of the policy
  • Stop you from having to use savings to fund your lifestyle
Income protection is particularly important for those who are self-employed, company directors, LLPs, or those with complex income streams. While many employees benefit from long-term sick pay from their employer, those who are self-employed, company directors, or individuals with alternative sources of earnings are unlikely to receive anything beyond statutory sick pay if they are unable to work.

To qualify for protection cover, you will need to be:

  • Working for at least 20 hours per week
  • Been working in the same role for at least 12 months
Each income protection policy is individually assessed by the provider. They will ask a series of questions about your health, wellbeing, lifestyle, and medical history before calculating your premium. They will also ask about your family’s medical history too. Some income protection policies may not cover you for pre-existing conditions. You’ll also be asked questions about your lifestyle, including hobbies and interests. If you take part in what they consider dangerous leisure pursuits, your premiums may increase. In most cases, you will not need to see a medical professional. However, you must ensure that all information you provide is accurate, or you could risk invalidating the policy. As a specialist broker, we spend time learning about you and will match you to the most suitable income protection provider for you. We can help you through the application process, providing clear and uncomplicated financial advice that provides peace of mind and protection.

How much cover do I need?

The amount of cover provided by your income protection policy will be based on your pre-tax income after other associated costs and expenses have been taken into consideration.

The total monthly benefit you receive may be affected if you receive payments from other insurance policies, or receive certain state benefits. Payments may be limited if you have other insurance policies that may payout if you are unable to work for any reason.

Some income protection policies pay out a fixed monthly amount (guaranteed benefit) for the duration of the policy. Other policies may increase payments each year in line with the retail prices index (RPI).

To secure a suitable income protection policy, it’s crucial that you work with an experienced, independent broker such as London FS. We can provide a simple breakdown of your benefits, detailing exactly what you’ll receive from each policy and when. It’s transparent and trustworthy financial advice.

How long until I receive income protection insurance payments?

Most policies will require you to wait four weeks before making a claim on your income protection policy. However, some policies may require you to wait longer before making an income protection claim

Depending on your policy, in some cases, deferring a claim may see your monthly income protection benefit payments increase.

Arranging income protection

London FS is a bespoke broker providing a personal and professional service to high-income clients who demand the best levels of service and support.

We specialise in providing clear and independent advice for our clients. We’re experts at arranging income protection packages for those with complex requirements., including company directors, those in LLPs and those with multiple income streams.

We spend time listening to you and learning about you to identify a suitable income protection product that provides an adequate level of protection and a monthly benefit that’s suitable for maintaining your lifestyle.

Benefits of working with London FS to arrange income protection cover include:

  • A dedicated broker who will work with you throughout the process
  • Access to the whole market of income protection providers
  • Experienced at working with a high-income client base
  • Professional service at all times
  • An experienced and dedicated team, working with London clients since 2003

Contact us for income protection insurance

If you’re interested in learning more about income protection policies or would like to speak to one of our trusted advisers contact us today. We provide income protection to business people in London who can rely on us to provide peace of mind and protection.

Frequently asked questions

After a deferred period, income protection cover pays out a monthly premium based on your pre-incapacity earnings. The payments continue until you return to work, retire or die, whichever comes sooner. Critical illness cover provides a one-off lump sum payment if you are diagnosed with a serious illness.

Both are a form of an insurance policy. You can hold both income protection policy and terminal illness cover. If you are planning for the future, you should also consider a life insurance policy. At London FS we can provide advice and guidance on all aspects of your financial future, including income protection, life and critical illness cover, business protection, and private medical insurance.

At London FS, we act as an independent financial adviser, providing expert impartial advice to help you select the most suitable income protection insurance products. We’re not tied to any financial services providers and can access the best deals from across the whole of the market.

We specialise in working with high net-worth individuals, including company directors and LLPs. We understand you require personal and professional service and will work with you to find a suitable income protection product that will deliver the maximum benefit for your investment.

The maximum cover you can receive from income protection insurance depends on your declared income. While we will do everything we can to connect you with income protection insurance providers that can provide the maximum cover you require. Contact us to discuss your individual circumstances.

You can find details of any exceptions in your income protection policy documents. All providers are legally required to write policy documents in plain English to avoid misunderstandings. Before agreeing to a policy, we will always provide independent and impartial advice. As a trusted partner, we’re here to help you select the most appropriate policy for you, your family, and your future.


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