Income Protection
Income Protection Insurance Services
Expert Income Protection Advisory
Protecting your income against illness or injury is one of the most important financial decisions you can make. When you’re unable to work due to ill health, your regular monthly income stops—but your bills, mortgage repayments, and daily living costs continue.
Step By Step Financial Solutions provides specialist income protection insurance advice with access to major UK providers from our panel of insurers. Our transparent fee structure means you will never pay for our insurance advice ,and our protection adviser team works exclusively in your interests.
Why Income Protection is Essential for Your Financial Security
Your ability to earn an income is your most valuable financial asset. Without it, everything else—your home, your lifestyle, your loved ones’ security—is at risk.
Household Financial Resilience Statistics
The financial resilience of UK households is lower than many assume. Office for National Statistics data shows that only 73% of employed households have enough liquid savings to cover a 25% drop in income for three months. When facing a 75% income reduction, just 54% could cope. Yet according to the FCA’s Financial Lives Survey, only around 6% of UK adults have an income protection policy in place.
The current statutory sick pay in the UK is £118.75 per week, paid by employers for up to 28 weeks (as of 05/05/2026) . For most people, this leaves a significant gap between their normal earnings and what they’d receive if unable to work.
Peace of Mind
Regular monthly payments during illness or injury ensure you can focus on recovery rather than money worries
Financial Stability
Income protection insurance cover typically replaces 50-70% of your gross income, paid tax free when premiums are funded personally
Comprehensive Cover
Protects against a wide range of illnesses and injuries, including mental health conditions and musculoskeletal problems
Long-term Security
Policies available until age 65 or retirement, providing protection throughout your working life
Professional income protection advice ensures your cover amount matches your actual needs, your waiting period aligns with any employer sick pay, and your policy term provides genuine security.
Our Income Protection Services
Individual Income Protection
We create tailored income protection policies for employed and self-employed individuals across Hampshire, London, Scotland, and throughout the UK. Self-employed individuals often use income protection insurance as a safety net since they may not be eligible for Statutory Sick Pay (SSP).
Our comparison service helps identify suitable income protection solutions from a range of leading UK insurers including Aviva, LV=, Royal London, Legal & General, The Exeter, Cirencester Friendly, and Vitality. We provide expert guidance on suitable cover levels, deferred periods, policy features, and benefit amounts tailored to your personal and financial circumstances.
Income protection for Limited company business owners
For directors of limited companies, we can advise on Executive Income Protection solutions designed to provide financial support if illness or injury prevents them from working. These policies can offer a tax-efficient way for businesses to help protect directors’ income while supporting financial stability during periods of absence from work.
Our advice covers suitable cover levels, deferred periods, and policy structures tailored to the needs of company directors and their businesses.
Our Top 10 Income Protection Policy Features
Own Occupation Cover
Pays your monthly benefit if you cannot perform your specific job, even if you could do other work—the strongest definition available
Increasing Benefit Options
Payments rise with inflation annually, protecting your purchasing power throughout the policy term
Rehabilitation Support
Many policies offer vocational rehabilitation or mental health support to help you return to work
Partial Payment Benefits
Reduced benefits when you return to work part-time, supporting gradual recovery
Houseperson Cover
Protection for non-working partners managing household responsibilities
Mental Health Coverage
Mental Health Coverage: Comprehensive wellbeing support for stress, anxiety, and psychological conditions—mental health claims represent a significant portion of all income protection claims
Guaranteed Premiums
Guaranteed Premiums: Fixed monthly costs throughout your policy term—you can choose guaranteed premiums (the price stays the same) or reviewable premiums (the price may increase over time)
Waiver of Premium
No payments required during a valid claim, so you’re not paying premiums while receiving benefits
Terminal Illness Cover
Accelerated payments for terminal diagnoses, similar to critical illness cover provisions
Flexible Waiting Periods
Choose your deferred period from 4 weeks to 2 years—longer waiting periods typically result in lower premiums
Our Income Protection Advice Process
Step 1: Needs Assessment
We conduct a comprehensive review of your monthly income, essential expenses, and any existing cover. To determine the appropriate level of cover for income protection insurance, start with your current take-home pay, subtract any state benefits you would receive, and account for work-related costs such as travel and food, while adding any additional expenses you might incur if you become ill or disabled.
We discuss your occupation classification (desk-based roles pay less than manual or hazardous work), health status, and lifestyle factors. Health status plays a significant role in determining the cost of income protection insurance; those in good health generally pay lower premiums. Engaging in dangerous hobbies or having a lifestyle that includes smoking or heavy drinking can increase the cost of income protection insurance.
Step 2: Research
We compare income protection policies from major UK providers, identifying best value options based on your specific requirements. Income protection policies typically provide a benefit that replaces 50% to 75% of your pre-disability income, which is calculated after deducting any state benefits and other similar insurance payouts.
Our research covers policy documents, terms, conditions, and exclusions across different insurers. We ensure you understand exactly what each insurance policy covers before making a decision.
Step 3: Application Support
We complete application forms and medical questionnaires with expert guidance, ensuring accuracy and completeness. Medical information must be provided correctly to avoid problems with future claims.
Our team liaises with insurers throughout the underwriting process, negotiating terms and clarifying any medical or occupational requirements. Insurers will assess claims based on the policy’s definition of disability, which may include the ability to perform duties related to your job, and they may require medical evidence to support the claim.
Step 4: Ongoing Service
We provide policy reviews to ensure cover remains adequate as your circumstances change. When choosing the level of cover, consider the potential impact of inflation on your expenses, as the cost of living may rise over time, affecting your financial needs during a period of incapacity.
Make sure to contact us if feel that you may need a new income protection advice.
Frequently Asked Questions
Start Protecting Your Income Today!
Income Protection Insurance Services
Income protection insurance provides financial support by replacing a portion of your income if you are unable to work due to illness or injury, helping you cover essential expenses like rent and bills. Don’t wait until ill health strikes to protect your financial security. Contact us for a free initial consultation with access to wide panel of insurers . Our team in Hampshire, Dorset, London and in Scotland is ready to help.
Phone
03456 461 941
Address
Offices in Hampshire and London , 30 Dukes Pl, London EC3A 7LP
SBS Finance is authorised and regulated by the Financial Conduct Authority. Your home may be repossessed if you do not keep up repayments on your mortgage.