As the year draws to a close and households prepare for the busy winter months, many people take time to review their finances. Mortgage rates, energy bills and day-to-day costs can all shift throughout the year, making autumn a sensible moment to check whether your financial safety nets are still fit for purpose.
For most homeowners, their mortgage is their largest financial commitment. But the true foundation of mortgage security is not just the property itself; it is your ability to earn the income that pays for it.
The overlooked safety net
Many homeowners protect their mortgage with life insurance to cover the debt if they were to pass away, yet far fewer have protection in place for what is statistically a more likely event: being unable to work because of illness or injury.
Income protection is designed to fill that gap. It provides a regular, tax-free income if you cannot work, helping you keep up with your mortgage and other essential outgoings while you recover. It is not a lump sum but a steady payment, usually covering between 50 and 70 per cent of your income, depending on the policy1.
This consistent income can make the difference between financial stability and unnecessary stress, ensuring that even during challenging times, your mortgage and household bills remain under control.
How it works
Income protection policies are flexible and can be tailored to suit your situation. You can choose how long you would like the policy to pay out for and how soon the payments would start after you are unable to work.
For example, someone with employer sick pay might opt for a longer waiting period before the policy starts paying, which helps reduce the premium. Those who are self-employed or have little financial backup may prefer payments to start sooner.
Short-term or long-term cover
There are two main types of income protection:
- Short-term cover provides income for a fixed period, usually one or two years, and is often the more affordable option.
- Long-term cover continues paying out until you return to work, reach retirement, or the policy ends. This offers stronger peace of mind for those who rely on a single income or have ongoing commitments.
Your adviser can help identify which option fits your circumstances, taking into account your current income, savings, and employment benefits.
Beyond mortgage payments
The benefit of income protection extends beyond covering your mortgage. It can also help you maintain everyday expenses such as utilities, transport and food, preventing your savings from being eroded during a period without work.
For families, this reassurance can be invaluable. Knowing that your essential costs are covered means you can focus on recovery, not on how to make ends meet.
Your autumn financial review checklist
Autumn is a natural time to reflect on your financial plans for the year ahead. As part of your review, consider asking yourself:
- Could you keep up with your mortgage and bills if your income stopped tomorrow?
- Do you have any existing sick pay or income protection through work, and would it be enough?
- How much income would you need to cover essential household costs?
- Have you reviewed your insurance in the last year to ensure it still meets your needs?
Taking time to discuss these points with a mortgage adviser can give you clarity and help you plan confidently for 2026.
Professional advice matters
Income protection is not a one-size-fits-all product. Policies vary by provider, by how benefits are calculated, and by how soon payments begin. A qualified mortgage adviser can review the market for you, explain the options clearly, and recommend a policy that suits your financial situation and priorities.
Protect your income, protect your home
Your income is what keeps everything else moving. Reviewing your income protection now can help safeguard your mortgage, your lifestyle and your peace of mind.
To discuss your options, speak to your adviser.
Source:
- Which.co.uk (2025). Income protection insurance: is it worth it? [online] Which? Available at: https://www.which.co.uk/money/insurance/life-insurance-and-protection/income-protection-explained-asH217E3fIZQ [Accessed 28 Oct. 2025].
All the information in this article is correct as of the publish date 30th October 2025. The opinions expressed in this publication are those of the authors. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content, and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information.
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