If illness or injury stopped you from working, how would you manage financially? It’s a question many people don’t want to face—but planning ahead could make all the difference.
Income protection insurance provides vital support when you’re unable to earn due to health issues. At Pineapple Insurance Services, we act as your dedicated income protection broker, helping you find the right policy tailored to your occupation, lifestyle, and financial needs.
What is Death in Service Benefit?
Death in service cover is a workplace benefit. If you die while employed by the company, your employer may pay a tax free lump sum to your nominated beneficiaries. This is known as a death in service payment, and it’s often linked to your company pension scheme. It’s typically calculated as two to four times your annual salary, but the exact amount depends on your employer.
These payments are usually made via a discretionary trust, which helps avoid inheritance tax and speeds up the payment process.
Life insurance cover is a personal policy you take out yourself. It pays a life insurance payout to your chosen beneficiaries if you pass away during the policy term. You choose the amount, the length of cover, and who receives the money.
Unlike death in service, your cover isn’t tied to your job. It continues regardless of who you work for, offering long-term protection that stays with you.
What is Income Protection Insurance?
Income protection is a type of insurance policy that replaces a portion of your income if you can’t work due to illness or injury.
It applies whether you’re:
• Employed
• Self-employed
• A company director
Unlike statutory sick pay or short-term employer benefits, income protection provides a reliable monthly income until you return to work, reach retirement, or your policy term ends—whichever comes first.
It’s long-term peace of mind, letting you focus on recovery instead of worrying about your next payslip.
How Does Income Protection Work?
If you’re unable to work due to illness or injury, you’ll make a claim after a deferred period—typically 4, 8, 13 weeks or more. After this waiting period, the policy pays you a tax-free monthly benefit, usually between 50–70% of your gross income.
Key features include:
• Short-term or long-term options
• Payments until recovery, retirement, or policy expiry
• Cover tailored to your job, health, and budget
• Optional extras like rehabilitation support
At Pineapple, we help you understand all the options and choose the setup that fits your circumstances—no jargon, just clear advice.
Comparison
| Who provides the benefit? | Death In Service | Life insurance |
|---|---|---|
|
Who provides the benefit? |
You, through an insurance provider |
Your Employer |
|
Payout Amount |
Typically 1-4 times your salary |
Flexible, based on your needs & policy choice |
|
Medical Exam |
No Medical Exam required |
May require, depending on policy |
|
Cost |
Low cost or free (employer paid) |
Premiums based on health, age and coverage level |
With countless providers and product types, income protection can be complex. That’s where a specialist broker makes all the difference.
Working with Pineapple means you get:
• Independent access to leading insurers
• Side-by-side comparisons and clear explanations
• Personalised recommendations based on your job and income
• Ongoing support, including policy reviews and claims guidance
You won’t get a generic product—you’ll get a solution that’s built around you and reviewed as your life changes.
Who Should Consider Income Protection Insurance?
Income protection is ideal for anyone who relies on their earnings to meet living costs.
It’s especially useful for:
• Self-employed professionals and freelancers
• Contractors with limited or no sick pay
• Business owners and company directors
• Employees with minimal workplace benefits
• People without savings to fall back on
If losing your income would put your home or financial stability at risk, income protection is a smart, proactive move.
Policies cover a wide range of conditions and can be tailored to suit your profession and personal situation.
Most plans:
• Cover both physical and mental health issues
• Allow for multiple claims if your health fluctuates
• Include rehabilitation support to help you return to work
• Offer the option to cover your own occupation or suited occupation
We’ll help you understand the differences and build a policy that reflects your real-world risks.
Short Term vs Long Term Income Protection
• Short-term cover pays benefits for 1–2 years per claim—great if you have savings or other support in place
• Long-term cover continues to pay until you recover, retire, or reach the policy’s end
At Pineapple, we walk you through the pros and cons of each, based on your income needs, job type, and budget.
How Much Cover Do You Need?
The right level of cover depends on your monthly commitments. Most policies pay out 50–70% of your gross salary (tax-free).
We’ll help you decide:
• The amount you need to replace monthly
• The best deferred period based on your savings
• The most appropriate policy term
• Any optional features or add-ons that suit your lifestyle
How Long Should It Last?
Policies are often linked to specific business needs—such as the length of a loan, a planned business exit, or a critical project. You might choose a short term (e.g. five years) or something more flexible depending on the risks involved.
What If the Key Person Suffers a Critical Illness?
Why Choose Pineapple Insurance Services?
We’re here to make the process simple, transparent, and tailored to you.
With Pineapple, you get:
✔ Independent guidance from income protection experts
✔ Access to multiple trusted providers
✔ Support with choosing, setting up, and reviewing your policy
✔ Personal service that goes beyond a comparison tool
Our goal is to help you feel confident, informed, and fully protected.
Speak to Pineapple Insurance Services Today!
Ready to protect your income and take control of your financial security?
Whether you’re self-employed, salaried, or a company director, income protection insurance can offer crucial peace of mind when life takes an unexpected turn.
Contact Pineapple Insurance Services today for a free consultation, no-pressure advice, and tailored income protection solutions built around you.
