What Does Income Protection Not Cover?
Income protection doesn't cover redundancy, job loss, or voluntary unemployment - only illness or injury preventing work. Pre-existing conditions are often excluded or limited. Self-inflicted injuries, substance abuse, and elective procedures aren't covered. There's also no payment during your chosen deferred period.
Common Exclusions
Redundancy/job loss
You need separate unemployment insurance for job loss cover
Pre-existing conditions
Conditions you had before taking out the policy are usually excluded
Self-inflicted injuries
Self-inflicted injuries and substance abuse are not covered
Deferred period
You won't receive payments during the initial waiting period
Frequently Asked Questions
Does income protection cover redundancy?
No. Standard income protection only covers illness and injury, not job loss. If you want redundancy cover, you need separate unemployment insurance or a policy that specifically includes it.
Are pre-existing conditions covered?
Usually not, or with exclusions. Conditions you had before taking out the policy are often excluded or subject to a waiting period. Always disclose your full medical history when applying.
What about self-inflicted injuries?
Most policies exclude self-inflicted injuries and conditions arising from drug or alcohol abuse. Mental health may be covered, but with specific terms and waiting periods.
Does it cover cosmetic or elective procedures?
No. Recovery time from elective surgery, cosmetic procedures, or planned treatments you chose to have is not covered. It must be illness or injury preventing work.
Related Questions
This page provides general information only and does not constitute personal financial advice. Income protection insurance products and their terms vary between providers. Always read the policy documentation carefully before purchasing. Your Home Finance is authorised and regulated by the Financial Conduct Authority.