Income protection will provide you with a tax free monthly income, if for example, you are unable to work, due to an accident or ill health. You can usually protect around 50-70% of your monthly income after tax. Payments from income protection are tax free and will usually continue to pay you until you return back to work or you retire.
Even if you receive sick pay from work, it is likely that it will stop at some point and then you will have to claim Statutory Sick Pay, (SSP). This is currently available for 28 weeks. Tax and National Insurance will be deducted from this, (depending on your tax status). If you are still unable to go back to work once SSP finishes, you may be able to claim Employment and Support Allowance, (ESA). This is a means tested benefit and it is not guaranteed that you will continue to receive an income.
Please visit https://www.gov.uk so accurate information can be obtained
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