Who has the best income protection insurance to meet your…
Income protection could help teachers to protect up to 70% of their usual income.
There are currently 624,520 full time teachers in the UK and while you’ll likely benefit from a sick pay scheme, this may not be sufficient to cover everything for you and your loved ones if you were left unable to work for a long period of time.
By taking out a personal income protection policy you can help to ‘top up’ your sick pay entitlement to provide a more comprehensive solution to protect your salary.
This can help you to carry on with your current lifestyle, reducing the need to make drastic cutbacks or rely on financial help from others.
Reassured Advice can help teachers find the right policy to meet their needs at the best available price.
A helpful member of the team can provide you with quotes from the whole of the market starting from just 20p-a-day ‡ .
Simply get in touch for your free quotes for teachers.
Keep reading as we cover everything you need to know about income protection for teachers, including:
Income protection for teachers (or teachers income protection) is simply a standard income protection policy which is taken out by a teacher.
If you were to fall ill or become injured during your policy’s term, you could make a claim and receive up to 70% of your income (depending on the provider) in monthly (tax-free) payments.
When making an income protection claim, you’ll need to wait for a ‘deferred period’ to pass before you’ll start receiving payments (usually you have the option of 4, 8, 13, 26 and 52 weeks).
Payments will only commence if you’re still incapacitated after this time.
As a teacher, you could set your deferred period to around the time your sick pay comes to an end or at the point you start receiving half pay.
This can help you to top up your finances and provide additional cover in case your illness or injury is more long term.
To find out more about income protection why not contact Reassured Advice?
Income protection for teachers can be extremely beneficial in helping to replace lost income and topping up your sick pay.
For most teachers, your sick pay entitlement will be outlined in the Burgundy Book (which details the national agreement on conditions of service for teachers) and is as follows:
|Length of service||Sick pay entitlement|
|During your 1st year of service||After completing four months service, you’ll receive 25 working days of full pay followed half pay for 50 working days|
|During your 2nd year of service||You’ll receive 50 working days of full pay followed half pay for 50 working days|
|During your 3rd year of service||You’ll receive 75 working days of full pay followed half pay for 75 working days|
|During your 4th year of service||You’ll receive 100 working days of full pay followed half pay for 100 working days|
For schools that follow the Burgundy Book, this is the minimum sick pay allowance that can be received.
Some local authorities may improve upon this, whereas free schools, academies and independent schools may have their own schemes that differ.
As this scheme is generous, in comparison to many other occupations, it can pose the question; do teachers really need income protection?
Teacher’s sick pay runs from April to April each year, meaning your sick pay entitlement will need to last you a year at a time (your entitlement won’t start again each time you’re off sick).
For minor colds, flu and broken bones, this amount is likely to be plenty. But, if you were to develop a more long-term health condition, would this be enough?
Your entitlement also doesn’t include bank holidays, school holidays or weekends. You’ll only receive sick pay on working days.
Therefore, it can be beneficial to have other forms of protection in place (such as income protection) to provide additional financial aid during the times you’re receiving half pay, or no pay at all.
Enquire with the team at Reassured Advice about the best way to protect your teacher salary.
It’s very unlikely that being a teacher will negatively affect your income protection application.
During the application you’ll need to provide information about your occupation, such as your job role and current salary.
As a profession, teaching is generally considered low-risk and you shouldn’t be penalised for your occupation during the application process.
Only in specialist circumstances may your application be affected by your occupation. For example:
Rest assured; you won’t be declined for income protection due to being a teacher.
Why not contact Reassured Advice to find the best teacher’s income protection to meet your needs?
Income protection can cover you for a wide range of illnesses and injuries.
Most income protection policies come with an ‘own occupation definition of incapacity’, which means you can make a claim for any illness or injury that prevents you from working as a teacher.
It’s reported that the education sector has over average levels of work related stress, depression and anxiety.
Many income protection policies cover mental health conditions such as stress and depression, meaning if you were to develop one of these conditions throughout your career, it could be covered by your policy.
The monthly payments you receive from an income protection policy could help you to cover:
Speaking to an expert, like Reassured Advice, can help you find the right policy to cover your specific needs. Simply get in touch.
The best income protection for teachers will be the policy that best helps to support your teacher’s sick pay scheme.
When securing income protection, you have the option of a short-term policy or a long-term policy:
Regardless of whether you take out a short-term or long-term income protection policy, there are certain policy features you should be aware of in order to ensure your cover best meets your needs:
Reassured Advice can help find the best teachers income protection, simply get in touch for your fee-free and personalised quotes.
Income protection can be taken out by teachers from just 20p-a-day through Reassured Advice.
However, the exact price you pay for your cover will depend on your personal circumstances.
During the application process, you’ll need to provide key information. This includes:
Being a teacher is unlikely to affect the price that you pay, as it’s considered a low-risk occupation.
If any personal factors are flagged that could be considered high-risk (such as smoking or having a pre-existing medical condition) you may experience an increase in your premiums.
The table below shows example income protection quotes.
Quotes are based on a teacher with an annual income of £30,000, who is a non-smoker and in good health. The policy term is until age 65, with a 6-month deferred period and guaranteed premiums:
|Age||Short-term price a month (2-year payment period)||Long-term price per month (full-term payment period)|
The table shows the younger you are, the cheaper your premiums. Taking out cover as soon as possible can help you to secure the most favourable premium over the lifetime of your policy.
Comparing quotes is also key to finding the most affordable income protection premiums for your personal circumstances.
Compare income protection for teachers through Reassured Advice from just 20p-a-day.
No, as a teacher you don’t receive life insurance through your employer.
However, most teachers will receive death in service benefit. This is a lump sum payment (usually a multiple of your salary) that will be made to your loved ones if you pass away while in employment.
For teachers, most commonly, 3x your salary will be paid out (but this can vary).
While this payment could help to ease the financial stress of your passing, it’s unlikely to cover all costs for your loved ones.
It can be beneficial to have your own personal life insurance policy, alongside your death in service benefit, to provide a greater level of cover for your loved ones.
It’s important to note that, if you leave your career as a teacher, your death in service won’t come with you - highlighting even more the importance of having your own cover in place.
Life insurance for teachers starts from just 20p-a-day † through Reassured, so why not get in touch for your personalised and fee-free quotes?
We have a dedicated teacher’s life insurance page if you require more information »
No, teacher’s do not receive critical illness cover as standard. However, through the teacher’s pension scheme, you’re eligible for ill health cover.
This will pay out an early portion of your pension if you’re unable to work due to ill health - similar to critical illness cover.
Critical illness cover will pay out a lump sum if you’re diagnosed with a serious illness.
Both critical illness cover and ill health cover can help you to replace lost income or pay for any private medical treatment.
However, when claiming on ill health cover through the teachers’ pension scheme, you’ll lose part of your pension.
Having your own personal cover in place, such income protection or critical illness cover, can allow you to replace lost income without having to dip into your retirement plan.
Reassured Advice can help you compare a range a personal plans from the whole of the market, allowing you to secure the best deal.
You’re eligible to take out income protection if you’re a part time teacher or supply teacher as long as you’re working over 16 hours per week.
Most income protection providers will require you to be working a minimum number of hours in order to take out income protection. Most commonly this is 16 hours, but could vary between providers.
As a part time teacher, you’re still entitled to sick pay as per the Burgundy Book. This is based on your salary and is up to 100 days full pay and 100 days at half pay.
However, as a supply teacher you don’t benefit from sick pay unless you are under a temporary contract (lasting for longer than a term).
For this reason, income protection could be extremely beneficial to supply teachers in providing financial aid should you become too ill or injured to work.
It’s always best to talk your circumstances through with an expert to work out the best form of cover to meet your needs.
Why not contact Reassured Advice where a friendly member of the team can provide you with all your options.
It’s possible to get discounts and rewards when taking out income protection through discountsforteachers.co.uk.
Currently 10% cashback + a free will (worth £130) is being offered*.
While discounts and cashback can be enticing, what’s more important is ensuring your policy provides the right level of cover and is at a price within your budget.
The level of cover required by most often results in cheap premiums, meaning 10% cashback is unlikely to result in a huge financial reward.
You put your heart and soul into teaching, so why not protect your salary?
Reassured Advice can help you compare quotes from the whole of the market, allowing you to find the best income protection for teachers.
A friendly member of the team can also help you to compare a range of other policies (including life insurance and critical illness cover) to help you find the right policy (or policies) for your needs.
All quotes through Reassured Advice are fee-free and completely no-obligation.
Best of all, income protection premiums for teachers start from just 20p-a-day through Reassured Advice.
Who has the best income protection insurance to meet your…
Use our income protection insurance calculator to work out…
Income protection for self-employed pays-out a tax-free…
You don’t always have to choose between life insurance vs…
What’s the difference between income protection insurance…
What does income protection insurance cover? Read this…
Read this in-depth review of Legal & General income…
What is mortgage income protection and how does it work?…
AIG are one of the biggest UK providers of income…
Royal London offer a generous maximum monthly benefit and…
Is Zurich income protection any good and are they the right…
Find out if LV= are the right income protection provider…
Yes very pleased with my choice very helpful easy to understand and very pleasant transaction all good!Mrs M Rushworth
Very professional and reassuring. Life insurance sorted in about 10 minutes.Stephen Davies
very courteous and friendly. Polite professional and empathic.Stedroy Fenton
Another happy customer I am. They are very professional and kind. Fully communicative. I recommend.Piotr Stepien
Really attentive during the call, good clear guidance throughout. Well done.Michael Reynolds
Amazing service quick fast and easy and Joey was a star on the phone really help me thanks.Sera Woolley
I made the right choice and now I feel relieved that I did.glyn
Really genuine kind and compassionate team with great knowledge and friendly approach highly recommend them!Katelia Merritt
I must say Jake took me through every step and was brilliant, recommend them anytime.Allan Green
Very happy and everything explained well, so glad a took the time to take the call, normally I would say I'm busy. But compared to other company's we save so much more money.Jenny Berry