Income protection insurance calculator UK

Income protection is an insurance policy that will pay out a percentage of your income if you’re unable to work due to sickness or injury.

Personal factors are factors that are unique to you and will depend on your individual circumstances.

You’ll need to provide your age and date of birth during the application process.

In most cases, the older you are, the more you’ll pay for your premiums.

This is because insurers perceive you to be a greater risk due to the increased likelihood of developing health complications (which will make a claim more likely).

Taking out cover at a young age can help you to lock-in the most affordable premium throughout the lifetime of your policy.

Seize the day and compare quotes through Reassured today to secure the most affordable income protection insurance to meet your needs.

If you have any pre-existing medical conditions, these will be taken into consideration during the application process.

The type and severity of your condition could mean your premiums are loaded (or inflated) to compensate for the greater risk.

Those with mild conditions, that have a minimal effect on day-to-day life, are likely to experience only a small loading (or perhaps no loading at all) to their premiums.

Those with more severe conditions may experience a greater increase to their premiums.

It’s also likely that your condition (and any related conditions) will be added as an exclusion to your policy, this means you won’t be able to make a claim for this reason.

In rare cases, if you have extremely poor health, insurers may deem you too high risk and may not be able to offer you cover.

However, even if you’ve previously been declined, all is not lost.

Reassured's advised team work with the UK's leading providers as well as smaller specialists to help you secure the cover you need. Simply get in touch.

You’ll need to declare whether you smoke during the application process.

If you declare that you are a smoker you may need to undergo some additional questions so that providers can find out more information about your smoking habits.

Not all providers will charge smokers more for their cover, but it’s likely that you'll experience higher premiums due to the increased risk of developing certain health complications.

It’s important to be open and honest about your smoking habits during the application process. Failure to do so is known as non-disclosure (which is a form of insurance fraud) and this can prevent a pay out being made when you need it.

It’s still possible to secure affordable income protection as a smoker, why not let Reassured find you the most cost-effective policy?

Your occupation can play a big part when providers assess your level of risk.

Most providers categorise occupations into class groups which are based on risk, the class group your occupation falls into can help to determine the price you pay for your cover and the terms you’re offered.

Typically, the riskier the occupation, the more you’ll pay for your premium.

For example, someone with an admin job based in an office will likely be in a lower class risk group and, therefore, will pay less than someone in the construction industry.

It’s worth noting that class groups can vary significantly between providers and some providers may not split occupations into class groups at all.

This is why it’s important to shop around and compare multiple quotes. Why not let Reassured Advice help you do this with their whole of market comparison service?