Salary Protection Insurance or ‘Income Protection Insurance’ provides policy holders with financial security in the event of a sudden loss of income, usually caused by an unexpected dismissal, accident or serious illness.
Depending upon the nature of the policy, salary protection insurance can cover customers for a period ranging from 12 to 24 months (short term income protection) to over 24 months (long term income protection).
For short term salary protection cover this type of insurance policy provides financial breathing space. Payments are made tax free and cover can be the lesser of £1500 pm or 50% of salary.
If you opt for unemployment cover terms apply so it is important to read the policy wording before you commit to this type of insurance.
For short term salary protection quotes see below: