Income payment protection insurance is available from a number of different insurance providers but the basic make up of an income payment protection insurance policy is generally the same.

These income payment protection insurance policies provide cover against:

• Accident
• Sickness
• Unemployment

They will all have a maximum amount of cover you can insure for. This is typically around £1000 per month but can be more and is also related to earnings. In the event of a claim, most income payment protection insurance policies will payout for a maximum of 12 months. After this time the policy will make no further payments.

One important feature to look out for is back to day one cover. This means that you will be gaining insurance payments from the first day of your claim.

Income protection insurance policies are designed to insure your regular earnings against accident, sickness and unemployment. This also means that you do not need to have a mortgage or loan to buy income payment protection insurance.