The Exeter income protection

The Exeter is different to other insurers on the market because they specialise in offering financial protection to non-standard applicants.

So, if you’ve struggled to secure cover in the past, through a mainstream insurer, The Exeter could be a good option for you.

Their income protection is designed to cover a wide range of occupations, providing monthly payments to mimic an income while you’re unable to work due to illness or injury.

The Exeter income protection overview:

  • The Exeter offers the ‘Income First’ policy
  • Cover is available to those aged 18 - 59
  • The policy can pay out to you while you’re too ill or injured to work
  • Up to 60% of your usual earnings could be protected
  • Both short-term & long-term cover is available
  • Own occupation definition of incapacity (allowing you to claim if you can’t do your own job)
  • Applicants under age 42 don’t have to provide routine medical evidence

You can’t purchase income protection directly through The Exeter, you must use a financial advisor or broker.

The Exeter income protection is available through Reassured. Our advised team can help you compare quotes from all UK insurers to help you find the best deal.

Simply get in touch for your free and no-obligation quotes.

The Exeter income protection reviews

In general, The Exeter and their income protection are rated well by customers and independent review sites.

Across all services, The Exeter is rated 4.2 stars on Trustpilot, from 826 reviews. Their income protection, specifically, is rated 5 stars on Defaqto.

Interested in life insurance, then why not read our complete The Exeter life insurance review?

Who owns The Exeter insurance?

The Exeter is a friendly society; therefore, it’s owned by its members (customers).

This means there are no shareholders to pay dividends to and the profits are invested back into the business.

What is The Exeter Income First policy?

Income Protection First’ is the name of the income protection policy offered by The Exeter.

It’s designed to provide you with a tax-free income if you become too ill or injured to work, covering a wide range of occupations, from office professionals to manual workers.

The Exeter income protection terms and conditions:

Terms and conditionsDefinitionWhat’s offered by The Exeter?
Policy termHow long you’ll be covered forYou can choose a term length to best suit your needs, however it must cease by age 70
Definition of incapacityWhat makes you eligible to claimOwn occupation definition, you’ll be covered if you can’t do your specific job
Benefit amountHow much you’ll receive each month. Also known as your ‘monthly benefit’ or ‘cover amountUp to 60% of your income could be protected. Monthly payments are tax-free and can be a maximum of £500 - £10,000 depending on your income
Payment periodHow long your policy will pay out for. This can be on a short-term basis or a long-term basisLong-term payment period could provide you with payments until your policy comes to an end (full-term). Short-term payment period could pay out for a maximum of two or five years
Deferred / waiting periodThe period that must pass before your payments commenceOptions include day 1 (no waiting period), 1 week, 4 weeks, 8 weeks, 13 weeks, 16 weeks or 52 weeks
Premium typeHow you’ll pay for your premiumsYour premiums could be:
  • Level guaranteed - Premiums will stay the same over the policy lifetime
  • Age-costed guaranteed - Premiums will increase with age at a guaranteed rate
  • Age-costed reviewable - Premiums will increase with age but are reviewed after three years

When taking out a policy through an expert broker, like Reassured, you’ll have a dedicated professional on hand to answer any questions you might have about policy terms and conditions.

Our advised team can also provide recommendations on whether a policy is right for your needs. Simply get in touch.

How much income protection can I get through The Exeter?

Through The Exeter you could claim up to 60% of your usual earnings (for earnings under £100,000 per year).

If you earn more than £100,000 per year, you can claim up to 60% of your income up to £100,000 and 40% on your earnings over this amount.

This will be paid out on a monthly basis, with payments from £500 - £10,000 per month (depending on your income). Income protection payments are tax-free.

How much income protection insurance do you need?

Enter the fields which apply to you to calculate the level of income protection cover you might require to help cover key costs.


£723 a month is the average monthly mortgage payment in the UK, with the average monthly rental price coming in at £700.

The majority of our monthly income will go towards rental or mortgage payments.

For this reason, it’s essential to have precautions in place to ensure you could keep up to date with your payments if you weren’t receiving your usual income.

Monthly income protection payments can help to cover this large expense and ensure you can stay in your home.


According to the Money Advice Service, the average household spends £340 a month on household bills.

This includes electricity, gas, TV and broadband.


Childcare costs are on the rise with it now costing £137.69 per week for part-time nursery for a child under the age of two.

That’s over £550 per month - is this an amount you’d be able to keep up with if you were unable to work?

Becoming ill could also result in the need for additional childcare while you attend doctors’ appointments or medical treatment.


The average household in the UK spends around £97 a week on their food shop, totaling £388 a month.

While this may seem like a small amount in comparison to some of the other expenses mentioned, the food shop is often where we try to scrimp and save when we fall on hard times.

Income protection can take care of the cost of your weekly food shop, as well as many other essential costs.


At the beginning of 2020, credit card debt in the UK was at £2.1 billion, with almost 27 million UK residents in some kind of debt.

Becoming unable to work could make it hard to keep up with credit card or loan payments (including car finance or other financed goods).

Failure to keep up with payments could result in additional interest being incurred or late fees issues - resulting in a higher total needing to be paid.


The average spent on public transport each month comes to an average of £94.

This includes the cost of public transport, as well as petrol and diesel vehicles.

While this amount may reduce while you’re unable to work as you won’t need to commute there may be additional spending on public transportation if your illness or injury leaves you unable to drive.


Your total cover estimate

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The Exeter income protection underwriting

You’ll need to answer questions regarding the following in order for The Exeter to accurately underwrite your policy:

Health & wellbeing

Unlike many other insurers, The Exeter don’t ask routine medical questions for applicants under the age of 42.

For those over the age of 42, whether medical information is required will depend on your monthly benefit amount.


Smokers will pay more for life insurance. Premiums may be further increased if your nicotine consumption is heavy, or you suffer from a medical condition which can be aggravated by smoking.


Your application may be loaded, deferred declined if there is evidence of excessive alcohol consumption.

Family history

If there is a family history of certain conditions, The Exeter may need to obtain further information before a decision can be made on your policy.

Height / weight (BMI)

With The Exeter, you’ll need a BMI of 19 - 28 for standard premiums.

It can still be possible to secure cover if your BMI is higher or lower, but it’s likely your premiums will be increased. In some cases, you could be declined.


High-risk activities (those where accident or injury are more likely to occur) will normally be excluded from applications with a short waiting period.

Activities such as potholing, rock climbing / mountaineering, motorsports and aviation will normally be excluded with all waiting periods.


Higher premiums may be charged for occupations that involve more manual work and/or higher business milage.

You could be declined, due to level of risk, if your occupation is one of the following:

  • Houseperson
  • Student
  • Armed forces personnel
  • Drivers
  • Underground miners
  • Oil rig workers
  • Professional sportsperson
  • Nightclub / bar security
  • Police officer / fire-fighter
  • Pilot / flight crew
  • Certain equestrian professions
  • Money / stock broker
  • Merchant marines and similar occupations

How much is The Exeter income protection?

Using the underwriting criteria detailed above, The Exeter will assess your level of risk and your premiums will be calculated accordingly.

The exact price you pay will be unique to your personal circumstances.

Below we have provided example pricing of the cost of The Exeter income protection through Reassured.

Quotes are based on a non-smoker, in good health (where applicable) with an annual income of £30,000 and a 6 month deferred period. Cover is until age 65:

AgePrice per month (2 year payment period)Price per month (full-term payment period)

When comparing income protection through Reassured, our advised team can provide you with quotes from The Exeter as well as all other UK insurers.

This means we can find you the most affordable deal for your personal circumstances.

Get in touch today for your fee-free quotes.

What BMI is needed for The Exeter income protection?

With The Exeter, you’ll need a BMI of 19 - 28 for standard premiums.

Anything below or above these readings will result in increased premiums or you may be declined for cover.

The Exeter will use your BMI combined with your age to determine the outcome of your application.

What is The Exeter minimum benefit guarantee?

The Exeter’s minimum benefit guarantee allows you to fix your benefit up to a maximum of £1,000 per month. This is part of their ‘fixable benefits’.

The minimum benefit guarantee enables you to fix your benefit up to a maximum of £1,000 per month in return for simplified financial evidence.

This can only be added when you first take your policy out and if you choose a two-year limited payment period. It will come at an additional cost.

Alternatively, the standard fixed benefit option allows you to fix up to 75% of your benefit by providing financial evidence. This option comes at no additional cost and can be added at any time within the first 12 months of your policy.

If your earnings were to drop, these options provide you with peace of mind that you could still receive a substantial payment each month to help cover your expenses.

You must be in active employment when you make a claim to be eligible for fixable benefits.

What additional benefits are included at no extra cost within The Exeter income protection policy?

The Exeter provide a range of additional benefits with their income protection. These include:

Guaranteed insurability

If your circumstances change, you can increase your benefit amount up to a maximum of 50% or £833.33 per month (whichever is lower).

Flexible waiting periods for NHS workers and teachers - receive a benefit that compliments your sick pay arrangements. You’ll need to select a waiting period of 52 weeks.

Waiver of premiums

You won’t need to pay your premiums during a claim.

Employer change promise

If you change jobs and find your sick pay is restricted (for example, during a probation period) you could receive your benefit before your waiting period finishes. Terms and conditions apply.

Rehabilitation benefit

This will pay a reduced level of your benefit for a maximum of 24 months if you return to work but on a part time basis and your earnings drop as a result of your illness.

Proportionate benefit

This is designed to pay you a reduced level of your benefit if you remain totally unable to work in your own occupation but you return to a different occupation with a lower income.

Policy breaks

You may want to take a break from your job (for example, to raise your family or to study). With The Exeter you can put your policy ‘on hold’, retain the existing terms of your policy and reinstate it when you need to.

You can opt for a ‘short-term’ policy break for up to 52 weeks (your policy must be at least 4 years old to be eligible) or a long-term break up to three years. You’ll need to pay a monthly premium equal to 10% of your usual premium during this time.


An app which gives you and your family access to medical experts whenever you need them. Services include remote GP appointments, second medical opinion, physiotherapy, mental health support, registered dietitian consultations, lifestyle and nutrition consultations, health MOTs and repeat prescriptions.

The Exeter income protection claims

To make a claim on The Exeter income protection you’ll need to contact them directly.

You can do this online by filling out their online claims form. Or, alternatively, you can contact them via phone, email or post. We have detailed The Exeter’s contact details at the bottom of this article.

You’ll need to provide certain information when making a claim, such as your policy number, details of your illness/injury such as when it started and any necessary evidence.

Does The Exeter income protection pay out?

In 2023, The Exeter paid out 96% of income protection claims. The most common reasons given for income protection claims were:

  • Musculoskeletal conditions - 42.8%
  • Hip & knee disorders - 10.5%
  • Mental health conditions - 7.5%

Only 40 claims weren’t paid out, the most common reason being due to misrepresentation (60%). This is where questions weren’t answered correctly at the point of application[1].

Can I cancel my income protection policy with The Exeter?

Yes, it’s possible to cancel a policy with The Exeter.

If you cancel within 30 days of talking out your policy, any premiums you’ve paid will be refunded (as long as you haven’t made a claim).

If you cancel after 30 days, you won’t be eligible for any refund of premiums.

Is The Exeter income protection good?

Hopefully this article has outlined the key details of The Exeter income protection to help you establish whether it’s a good option for you.

In summary we have detailed the pros and cons of The Exeter income protection:

No medical information is required for applicants under the age of 42, making it a good option for those who have struggled to secure cover in the past due to poor healthOnly one policy option available
Policy comes with a number of helpful additional benefitsYou can’t apply for a policy directly with The Exeter
Rated well by customers and independent review sitesPremiums aren’t always guaranteed, meaning premiums can increase throughout the policy lifetime

For more information on The Exeter and their income protection, why not get in touch with Reassured?

Our friendly team can provide you with all the information you need to know.

The Exeter income protection contact number

You can contact The Exeter on 0300 123 3201 (Monday to Friday 08:00 - 18:00).

Alternatively, you can email or write to:
The Exeter
Lakeside House
Emperor Way

Compare The Exeter income protection

Compare The Exeter income protection using the whole of market comparison service offered by Reassured.

Our advised team can provide you with fee free quotes to help you find the best price on a policy that meets all your needs.

Not only can we provide you with quotes, but you’ll also have a dedicated expert to answer any questions you might have and provide advice.

Simply get in touch today to protect your income.


The information used in this article has been taken from the insurers website and policy documents. It is correct as of 03/06/24


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