Income protection insurance - do you have it?

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I have to highlight my ignorance here. I've never heard of it. I have life insurance and know about critical illness cover but I never knew this was a thing.

2 questions. Do you have it and can you recommend a good provider?
What else am I unaware of in terms of protecting myself as a working person for the future?

I did have it and it literally kept the roof over my head.
I'm a single parent so had the tripple - life, critical and income protection.
When I had something go wrong in hospital I was left unable to work. I had a delayed income protection (as had good sick pay for 6 months). The critical illness cover was useless as my illness/disability didn't fit their list. The income protection meant I could pay my mortgage and bills while I went through the process of getting ill health retirement and disability benefits sorted.
This was 10 years ago now so can't really recommend a company but would recommend looking into it. You just don't know whats round the corner I went from a professional income to living on benefits.

Usually income protection is through union membership as in the best price will be because you are a member of a trade union. I have it. have yet to use it. but I am a sole earner as my DH is a STHP and that means if i cant work we have no money

I have it. Mines with Zurich. I also have critical illness and life insurance. I have it as my work don’t offer enhanced sick pay only the basic rate and if I was sick for a long period of time I couldn’t pay my bills.

I used a broker as with all my insurances.

Yup. Critical illness, income protection and life insurance. I get it through work. I pay about £70 including tax but it’s worth it as I wouldn’t be able to pay my mortgage on disability benefits!

You might have it as part of your workplace pension if you are an employee. Worth checking.

I had it until 5 months before retirement. My job paid 6 months sick. I didn’t actually need it but the peace of mind was really worth it.

Do you mind me asking if that’s a monthly or annual sum? x

Monthly. It’s less than it would be as the employer subsidises it but then benefit in kind tax is added.

DH always had it when we had young children and a mortgage.
DS has it because he bought his house and has a mortgage on his own, so noone to pick up the slack if he's off sick, although he has decent sick pay through work so his insurance isn't expensive. His mortgage advisor arranged it when he was buying his house. Can't remember if it's with Aviva or Legal & General but it's one of those.

Did have it for DH (self employed) but after a very boring night and adulting and reading (understanding) the T&Cs there were far too many get out clauses for the provider to use in order to not pay out. So we cancelled and added the monthly payment to our S&S savings instead.

I pay about £25 a month for mine. I took it out when I was 21 which made it cheaper. Mine was done through black horse financial services because I banked with Lloyds at the time.

I had it until recently. It has been used numerous times over the years, it was around £10 per month through NatWest bank when we first took out a mortgage. Iirc they wrote and said it was being discontinued, whether that’s because it was up after 25years, or they were just stopping it, I have no idea. I haven’t got around to re organising this, I imagine it will be a lot more now due to my age!

My late husband had it. He paid the premiums out of taxed income so the benefits were tax free. He paid several £100 a month as he was a high earner.He got the maximum allowed which was £60k a year back then in 2000. He was on over £100k as a lawyer so £60k tax free rising by 5% a year so it really meant I could save and not have to go back to work full time after he died.

His policy said he only had to be unfit to do "his" job not "any" job. He was a lawyer in a corporate field and had a brain tumour so his higher mental and executive function was affected. So that's an important thing to look out for as otherwise they might have said you can't do legal work but you could work on reception in the office.

We had yearly reviews through his hospital consultant and GP who filled in the firms and we had very little difficulty with it.

So if you can afford it then get it.

We took it out for my husband as he’s the high earner. We both have life insurance but only he has income protection

I’m sure when I first got a mortgage it was mandatory. Or I thought it was. So I’ve always had it. I’m really surprised more people don’t. If you’re going to go from say a £60k job to benefits how do you expect to pay your mortgage? So you have a back up plan?

You can use savings, you could get a lodger or two. Or, worst case scenarios: going to interest only / extending the term / mortgage holidays / SMI loan.