Income Protection provides you with a replacement income, which is paid out if you cannot work due to an illness or injury after a certain period of time. It is meant to replace some of your earned income once any state benefits are taken into account, so you can still enjoy a comfortable standard of living.
This plan does not provide any protection against unemployment.
Income Insurance might suit you if you:
are currently between 18 and 54 years of age and in full-time employment or are self-employed;
want to protect some of your income until you are age 65 if you cannot work because of an illness or injury;
want a Policy that pays you a regular income if you cannot work because of an illness or injury, after a certain amount of time (deferred period);
want the option to top up your cover at a later date;
want your cover to continue, no matter how many claims you make;
Cost depends on your age, income, health, occupation and the benefits you choose and you will receive tax relief at your marginal rate.