Best Income Protection For Teachers 2024

Elaine Brookes Steve Case

Author: Steve Case - Insurance Expert

Reviewed & Fact Checked By: Elaine Brookes

Updated: 8th December 2023

teachers income protection insurance

Receive a monthly income for as long as you need if you are off work sick or physically injured – it is that simple.

Why Income Protection?

If you are online looking into the subject of income protection for teachers, this could mean that dreaded thought has crossed your mind.

“What if something happens to me” and unfortunately, it could.

You can’t control getting sick or injured, but we can control if we’re protected.

Income protection is flexible insurance that pays teachers a tax-free benefit if they were off work due to sickness or injury.

Do Teachers Need Income Protection?

The long and short – Yes. On average, teachers in the UK get only 11 paid sick days per year.

The average claim with income protection lasts 18 months. An income protection policy will pay out in the event of ANY sickness or injury.

What are the benefits?

  • Monthly Rolling – you are never tied into any agreement. Income protection is entirely flexible.
  • Available if full-time, part-time, temp or agency.
  • Secure 70% of your gross income tax-free.
  • Very affordable options can start from £10 per month.
  • You will be covered instantly – as soon as today!
  • Peace of mind that your mortgage, rent, bills and other commitments will be protected.
  • Payment can be received every month until retirement.
  • No upfront costs whatsoever.
  • Existing medical conditions accepted.
  • Dual deferred periods are available for sick pay that gradually reduces over time.

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  • Income Protection: 60 Second Application ⏱

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Income protection for teachers

Factors that will determine the cost of your income protection plan

  • Fixing the premium type to ensure your monthly cost remains the same
  • The level of cover you will require, you can receive a maximum of 70% or opt for a lower amount that will cover vital bills
  • Your age at the point of application – The younger, the better!
  • Your medical background – The more extensive, the higher the risk, but our team can find you the best option.

In your deferred period, you can select a waiting period that is applied before you receive your monthly benefit. The longer you can wait, the lower the cost.

What Government Assistance is Available for Teachers?

Unfortunately, there isn’t much support beyond receiving sick pay. SSP is currently £99.35 and is paid out for 28 weeks. An average income protection claim will last 18 months.

UK Financial Statistics

  • The average household is just 24 days from the breadline, far shorter than the 90 days they believed
  • Almost half of all Days to the breadline households feel losing their income is one of their biggest worries if they are unable to work
  • 2 in 5 households have less than £1,000 in savings. 1 in 5 have no savings at all

Have you considered what would happen if you were unable to work? If you have savings, will they cover all your outgoings for over 12 months?

The chances are, the answer to that question is no. Let us show this cover’s affordability with a free, no-obligation quote.

1 in 20 teachers has mental health struggles that last over a year

It is widely accepted that teaching is one of the most high-pressure jobs, especially right now with the aftermath of Covid19.

One of the main conditions that a claim is made on teachers income protection are stress related. This claim lasts, on average, eight months allowing breathing space to get your mental health back on track without missing any monthly commitments.

Teachers can also fall victim to physical injuries or have an accident, leaving them unable to work. This would also result in a successful claim allowing them to recover thoroughly, anxiety-free, knowing all financial commitments would be covered.

Get Income Protection Quotes From The UK’s Top Companies

income protection providers
  • Income Protection: 60 Second Application ⏱

  • Please enter a number from 100 to 100000.
  • Please enter a number from 1 to 50.
  • About You

  • By clicking Submit and ticking the box above you agree to be contacted by email, sms or telephone by an FCA authorised insurance firm and confirm that you have read and agreed to our Terms & Conditions and our Privacy Policy

Did you know income protection doesn’t only pay you a monthly benefit when you are sick or injured?

There is a list of great features these policies come with that nobody ever seems to discuss. The features provide care for not just you but your loved ones too.

Additional Benefits That Come With an Income Protection Policy:

  • Waiver of premium – During a claim, the insurer will pay for your policy
  • Hospitalization benefit – Get £100 for each night you are hospitalized
  • Trauma benefit – Receive a lump sum of £50,000 if diagnosed with specific conditions
  • Fracture cover – Receive a lump sum for every fracture/broken bone and claim as many times as you want.
  • Ideal for those with sporty or active hobbies.
  • Death benefit – Get a lump sum if you pass away during the policy term
  • 24/7 free GP service – This includes telephone or video consultations with private prescriptions
  • Private diagnostics testing for Oncology, Cardiology or Neurosurgery also protects your children.
  • Family care benefit – if your partner or child has been sick or injured for three months, you can claim your monthly benefit for a whole year whilst they recover.

And many more extra benefits can come FREE with an income protection policy!

Here are some everyday scenarios and genuine prices:

Meet Kemal

Kemal is 45 and earns £42,000 per year. He has asthma and high blood pressure.

His total monthly outgoings are £2,000 a month.

Kemal heard about income protection from a colleague at school but felt this might be expensive due to his medical conditions.

Kemal decided to find out what would be available to him. After speaking with an adviser, a policy was set up that would pay Kemal £2,450 tax-free for every month he was out of work due to any sickness or injury. The £450 left over is for Kemal to spend however he likes. This policy costs £19.11 per month.

Meet Claire

Claire is 34 and earns £36,000 per year. She has no medical conditions.

Claire has had her policy for two years and is unfortunately in a position where she needs to claim for depression and anxiety.

Her claim is immediately accepted, and she receives £1,800 every month, tax-free for nine months. Claire’s policy remains active at the same great price as she can make multiple claims due to the policy she was advised to have.

This policy costs £14.32 per month, meaning Claire paid £343.68 over two years and got back £16,200.

Meet Syed

Syed is 61 and earns £58,000 per year. He has IBS.

Syed is very active and goes mountain biking regularly as a hobby.

Unfortunately, Syed has an accident which leaves him in bad shape in hospital for 30 days. Once out of the hospital, Syed takes three months to recover.

Syed Received £ 3000 as a hospitalization benefit and £2,784 for every month he was out of work. The hospitalization benefit came at no extra cost and was added on by the adviser he dealt with.

If you’re a teacher and have found yourself online reading about income protection, don’t delay. Get a free, no-obligation quote today and start protecting your tomorrow today. Please read our life insurance for teachers guide if you are also interested in complimentary life insurance quotes.

Income Protection For Teachers FAQs

Does Income Protection cover permanent disability?

Yes, income protection insurance can provide coverage for permanent disability. This type of policy can help replace a portion of your lost income if you cannot work due to a disabling injury or illness.

Many policies will provide benefits up to 60-70% of your regular earnings, which can often be paid until age 65 or 67.

Does Teacher Income Protection cover stress?

Teacher Income Protection does not specifically cover stress, but it can help you financially if something unexpected happens that causes you to lose income.

For example, if you are diagnosed with cancer and have to take time off work for treatment, Teacher Income Protection would help replace some of your lost income.

Stress can affect your health, so it’s important to find ways to manage it. Some strategies that may help include exercise, relaxation techniques, and spending time with friends and family.

Don’t hesitate to seek professional help if the stress becomes overwhelming.

What is the maximum Income Protection benefit amount?

The maximum income Protection benefit is contingent on the insurance company. It is possible to insure between 50 to 70% of total income through Income Protection, based on your chosen insurance company.

Are income protection policies worth it?

They can provide a financial safety net if you experience an unexpected loss of income.

On the plus side, an income protection policy can give you peace of mind knowing that you’ll have some financial assistance if you’re ever laid off or experience another sudden loss of income. It can also help cover your living expenses if you cannot work due to an injury or illness.

On the downside, however, income protection policy premiums can be quite expensive.