04/06/2026
Preparing for the unexpected: protecting your income in illness.
Becoming unable to work because of illness or injury can put real strain on household finances.
With higher living costs and pressure on public services, protection insurance can offer reassurance by providing financial support during difficult times.
A few facts worth knowing:
💷 Statutory Sick Pay is just £118.75/week for up to 28 weeks — and 4.37 million self-employed workers in the UK don’t qualify at all.
🏥 Income protection pays a regular monthly income (usually 50–70% of your gross salary) if you can’t work due to illness or injury. Cover often includes cancer, heart attacks, strokes, mental health conditions and physical injuries.
💰 Critical illness cover pays a one-off tax-free lump sum on diagnosis of a listed condition — handy for clearing the mortgage, funding treatment or adapting your home.
✅ You can hold both at the same time. One covers the bills, the other covers the big costs.
⚠️ Watch the small print: “own occupation” vs “any occupation” definitions matter. So does disclosing pre-existing conditions — non-disclosure is the fastest route to a rejected claim.
Payouts from policies you’ve set up yourself are usually tax-free.
Peace of mind isn’t about expecting the worst — it’s about knowing you’re covered if it happens. 💙
Income Protection, Critical Illness Cover, Financial Planning, UK Finance Money Matters, Protect Your Family
Hanbury Financial Planning is an Appointed Representative of and represents
only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority). SJP Approved 26/2/2026
