Get low-cost high-quality cover from Canada Life Income Protection Insurance. New product from February 2022.
- Cover from £23.50 per month
- Canada Life cover is not available on the comparison sites
- Immediate cover if you are a victim of unfair and constructive dismissal
- You can get a payout just one week after you can’t work
- Critical illness cover also available with fixed monthly premiums
- Specific cover for just your rent or mortgage
- Get an income protection policy that covers short term and long term needs
Canada Life Income Protection Insurance Review
- Back-to-work benefit – if you can work in another job or your existing job at reduced hours you can still keep some of your income protection cover payments
- Benefit guarantee – your monthly payments will never fall below an agreed amount even if other circumstances change
- Guaranteed insurability – once the cover is live if your circumstances change you can make amendments to the cover, if your salary rises for example
- Hospitalisation benefit – get £120 per night if you are in hospital which is more than many other insurers
- Trauma benefit – receive a cash lump sum of 8x your monthly benefit if you suffer a trauma
- Waiver of premium – while you are receiving your monthly payments you do not have to pay your monthly premiums
Canada Life Income Protection Insurance for Mortgage or Rent
If you have some savings and are just looking for a fixed amount each month to cover your rent or mortgage an even more cost effective policy can be purchased with a low monthly premium.
This maybe more relevant to a person that is married or shares their home with someone else that can help towards other bills and monthly out goings.
Canada Life Income Protection Insurance Calculator
An authorised Canada Life representative can use the Canada Life Income Protection Calculator to give you an indication of the premium for your desired amount of monthly cover.
For many people with high monthly commitments and little or no savings statutory sick pay is not enough to cover things like credit card payments, car finance and other essential outgoings.
What if I want to compare income protection insurance cover?
If you want to compare your Canada Life quote you can speak to an independent financial advisor about your other options through different insurers.
How much is income protection insurance coverage?
Income protection starts at £23.50 per month depending on your personal circumstances.
Does Canada Life offer Redundancy protection?
Yes, Canada Life redundancy protection is included in all Canada Life income protection schemes.
Does Canada Life offer critical illness cover?
Yes, Canada Life critical illness cover is affordable for many people including the self-employed.
Canada Life income protection insurance covers other things like some rehabilitation costs to help you get back to work.
Can mortgage payment protection insurance be included in my policy?
Do I need income protection insurance?
If you have an unencumbered home, significant savings, a wealthy partner, or a family member that will help you out, you may not need long-term income protection, however, you must always ask yourself, “what if”?
Customer & adviser service
Phone: +44 345 223 8000
Monday – Friday 9am to 5pm
Canada Life Limited
Registered in England no. 973271.
Registered office in the UK:
Canada Life Place
Canada Life UK is a member of the Association of British Insurers.
Canada Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Is it worth getting income protection?
Appealing income protection cover products are Lloyds critical illness cover policies, Barclays income protection peace of mind insurance, Natwest nurses critical illness cover policies, L&G lifetime protection insurance and Nationwide BS high earners unemployment policies.
What is income protection insurance?
Popular waiting periods of Lloyds income protection insurance policies, Barclays Bank critical illness insurance policies, Halifax clear policy details income protection insurance, Legal and General income protection peace of mind insurance, Royal Bank of Scotland accident and sickness insurance products and Nationwide BS involuntary redundancy cover products are 30 days, 28 days and 65 days.