Protection Insurance
Find Out What Protection You Need in 60 Seconds
Answer a few quick questions and see where you're financially exposed — no jargon, no pressure.
Why It Matters
The Facts You Should Know
Understanding the reality helps you make informed decisions...
1 in 2
People will face a serious illness in their lifetime
3 months
Average savings most families have for emergencies
6 months
Typical recovery time after serious illness
£1,500
Average monthly mortgage payment to protect
Good news: The right protection is often more affordable than people think, and having it in place means peace of mind for you and your family.
Types of Cover
Your Protection Options
Each type serves a different purpose. Most people benefit from a combination.
Life Insurance
From £5/moLife insurance provides a tax-free lump sum to your loved ones if you pass away. It covers mortgages, debts, and helps maintain your family's lifestyle.
Who Needs This?
- Anyone with a mortgage
- Parents with dependent children
- Main income earners
- Business owners
- Anyone with debts
Key Benefits
- Tax-free lump sum payment
- Can avoid inheritance tax via trust
- Level or decreasing cover options
- Joint policies for couples
Critical Illness Cover
From £12/moPays a tax-free lump sum if you're diagnosed with a serious illness like cancer, heart attack, or stroke. Use it however you need.
Who Needs This?
- Those without savings
- Self-employed without sick pay
- Primary earners
- Anyone with a mortgage
- Family history of illness
Key Benefits
- Covers 40+ serious conditions
- Pays regardless of work ability
- Can combine with life cover
- Children's cover often free
Income Protection
From £15/moPays a monthly income if you're unable to work due to illness or injury. Typically covers up to 60% of salary until you recover or retire.
Who Needs This?
- Self-employed with no sick pay
- Limited company sick pay
- Those on statutory sick pay only
- Ongoing financial commitments
- Main household earners
Key Benefits
- Pays monthly like a salary
- Covers any illness or injury
- Can pay until retirement
- Tax-deductible for self-employed
At a Glance
Compare Protection Types
See the key differences between each type of cover
Life Insurance
From £5/moCritical Illness
From £12/moIncome Protection
From £15/mo| Feature | 🛡️Life Insurance | ❤️Critical Illness | 💷Income Protection |
|---|---|---|---|
| When it pays out | When you pass away | When diagnosed with serious illness | When unable to work due to illness/injury |
| Payment type | One-off lump sum | One-off lump sum | Monthly income |
| What it covers | Death during policy term | 40+ serious conditions | Any illness or injury stopping work |
| Best for | Mortgage, dependents, debts | Mortgage payoff, treatment costs | Bills, rent, ongoing expenses |
| Can claim multiple times | — | Usually no | Yes ✓ |
| Tax-free payout | Yes ✓ | Yes ✓ | Yes ✓ |
| Typical cost (age 35) | From £5/mo | From £12/mo | From £15/mo |
| Who needs it most | Anyone with mortgage or dependents | Those without savings buffer | Self-employed, limited sick pay |
Real Stories
Families We've Protected
"The critical illness payout meant I could care for my husband without worrying about the mortgage."
Sarah M.
Essex
"Income protection saved us when a back injury kept me off work for 8 months."
James T.
Hertfordshire
"Life insurance meant our children could stay in their home after my husband passed."
Michelle R.
London
Quick Estimate
Protection Cost Calculator
Get a rough idea of what protection could cost you
Estimated Monthly Cost
£362 – £564
per month
Life
£72-108
Critical
£220-330
Income
£70-126
*Estimates only. Actual premiums depend on health and other factors.
Common Questions
Protection Insurance FAQs
What's the difference between life insurance and critical illness cover?
Life insurance pays out a lump sum if you pass away during the policy term. Critical illness cover pays out if you're diagnosed with a serious illness listed in your policy while you're still alive. Many people combine both for comprehensive protection.
How much life insurance do I need?
A common guideline is 10x your annual salary plus any outstanding debts like your mortgage. Consider how long your dependents would need support and any future costs like children's education. Our protection check can help you calculate this.
What does income protection cover?
Income protection pays a monthly income (typically up to 60% of your salary) if you're unable to work due to illness or injury. Unlike critical illness which pays a one-off lump sum, income protection provides ongoing support until you recover or retire.
Can I get protection if I have pre-existing conditions?
Yes, in many cases you can still get cover. Some conditions may be excluded or premiums may be higher, but we work with specialist insurers who cater for various health situations. It's always worth getting a quote.
How long does it take to set up protection?
Most applications are completed within 24-48 hours. Some may require additional medical information or a GP report, which can take 2-4 weeks. We guide you through the entire process and keep you updated.
Are protection premiums tax-deductible?
For personal policies, premiums aren't tax-deductible. However, if you're self-employed, income protection premiums can often be claimed as a business expense. Life insurance payouts are usually tax-free if set up correctly in trust.
What's a deferred period in income protection?
The deferred period is how long you wait after being unable to work before payments begin. Common options are 4, 8, 13, 26, or 52 weeks. Longer deferred periods mean lower premiums. Choose based on how long your savings or employer sick pay would last.
Do I need protection if I have savings?
Savings provide a buffer, but protection ensures long-term security. Consider: could your savings cover years of mortgage payments, bills, and living costs if you couldn't work? Protection gives you peace of mind beyond what savings alone can provide.
Find Out What You Need
Get a personalised estimate. No obligation, no hard sell.
Or call 01992 535 555
General information only, not a personal recommendation. Apply Wise Financial is authorised and regulated by the FCA. Estimates are for illustrative purposes.