What Happens to Income Protection If I Change Jobs?
Personal income protection policies continue when you change jobs - your cover stays active as long as you keep paying premiums. You should notify your insurer of significant occupation changes, as moving to a higher-risk job could affect your terms. If your salary increases, consider increasing your cover amount.
Key Points
Policy continues
Personal policies stay active when you change jobs
Notify your insurer
Tell them about significant occupation changes
Occupation matters
Higher-risk jobs may affect premium or terms
Update cover amount
Increase cover if your salary goes up significantly
Frequently Asked Questions
Does my policy continue if I change jobs?
Yes, personal income protection policies continue regardless of job changes. Your cover stays active as long as you keep paying premiums. You should notify your insurer of significant changes though.
Do I need to tell my insurer?
Yes, you should inform them of job changes, especially if your occupation changes significantly (e.g., office work to manual labour). Some occupation changes could affect your premium or cover.
What if my new job is higher risk?
Your insurer may adjust your premium or terms if your new occupation is higher risk. In some cases, they may add exclusions. Always declare changes honestly to avoid claim issues.
Can I increase my cover if I earn more?
Many policies offer 'guaranteed insurability options' or allow you to increase cover without new medical underwriting when your income rises. Check your policy terms or ask your adviser.
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.