Fidelity Life income protection provides monthly benefit payments if a medical condition or injury prevents you from working. Rather than a one-off lump sum, income protection delivers ongoing payments for as long as you remain unable to work, up to the maximum benefit period in your policy.
Income protection is worth considering if:
- Your household depends on your income to meet regular expenses
- You have a mortgage, rent, or loan commitments
- Employer sick leave would not last long enough to cover a serious illness or injury
- You are self-employed and do not have employer income protection
You can choose a waiting period (the time between when you stop working and when payments begin) and a benefit period (how long payments continue). A longer waiting period generally means a lower premium.
Benefit payments are typically calculated as a percentage of your pre-disability income, up to the policy maximum. Payments are designed to replace your working income, encouraging return to work when medically appropriate.