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Additional and enhanced payments on income protection cover – 6 things you should read

Additional and enhanced payments on income protection cover – 6 things you should read

Whilst the core purpose of income protection insurance is to provide the claimant with a replacement income should they be unable to work due to illness or injury, increasingly many insurers are providing a range of additional or enhanced payments, intended to provide further financial support. Whilst so called ‘added-value’ benefits, such as GP services, second medical opinion etc are commonly referred to, some of the extra financial benefits found on some income protection plans are not as well known about. These may include payments if the client is hospitalised, or if they have to take on caring responsibilities, as well as death benefits if they unfortunately pass away during the policy term. In this ‘6 things you should’ read, we bring you a round-up of all of our detailed coverage on income protection additional payments, highlighting which insurers offer what and how they compare.


Hospitalisation Benefit

Hospitalisation benefit will pay an additional daily amount during the defer period, if the client is hospitalised as a result of illnes or injury. Typically the client needs to be hospitalised for a certain number of days before the benefit kicks in, but this can provide vital financial support during the defer period. 

To read more click here

Trauma benefit

Trauma benefit it offered by a small number of insurers and will pay a lump sum (a multiple of the monthly benefit), if the client suffers one of a number of traumatic injuries. 

To read more click here 

Fracture cover

Fracture cover is a popular benefit, provided in some cases automatically on an income protection plan, in other cases as an optional extra that can be bolted-on at cost. The benefit will pay a lump-sum if the client suffers one of a number of fractures. 

To read more click here 

death benefit

Death benefit, offered by a small number of insurers, will pay a lump-sum if the client unfortunately passed away during the term of the policy. Whilst not a replacement for life cover, this does provide a valuable additional benefit, that could be used to pay for funeral costs amongst other things. 

To read more click here

carer benefit

Taking time out of work to care for a loved one can have major financial consequences, and is unfortunately something that most income protection plans don’t provide cover for. In this insight we highlight which insurers do offer carer benefits and how they compare.

To read more click here

child critical illness benefit

Children’s critical illness cover is traditionally only available as a benefit alongside adult critical illness cover, and whilst in recent years insurers have altered their approach to child CI, by offering more flexible options, this mostly remains the case. There are however a very small number of insurers to offer a child CI benefit within their income protection cover, or as an optional bolt-on. 

To read more click here

About The Author


Rob Harvey supports Protection Guru in it’s detailed research & benchmarking of protection products and features. He works alongside the team in helping drive product innovation and improvements with insurers and engages with adviser firms in ensuring they have the right tools & resources at their disposal to deliver the best protection advise. Prior to joining Protection Guru Rob spent 9 years at protection specialists Drewberry, where he worked as an adviser, learning & development manager and finally head of health & protection. In his spare time and when not out enjoying the pubs & bars of Brighton, Rob collects vintage clothing, is an historic motor racing enthusiast and avid country walker.

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