Income Insurance is an accident, sickness and unemployment payment protection product that is quite often confused with Permanent Health Insurance that is also called Income Insurance.

Income Insurance as an ASU product is designed to protect a percentage of your income should you lose it through accident, sickness or unemployment. Income Insurance as a Permanent Health product does not protect you against unemployment, just accident or sickness.

In order not to confuse the two products, Income Insurance as an ASU product will often be called Income Payment Protection or Income Protection (ASU) so it is important to look for the phrase, accident sickness or unemployment.. Income Payment Protection, as supplied by Ant Insurance, will provide you with up to £2,000 monthly tax free benefit that you may use in whatever way you wish to continue to maintain your lifestyle while you recover from illness or find work. The benefits are usually paid to a maximum of between 12 to 24 months for each individual claim.

Income Insurance as a Permanent Health product will not have the phrase “payment protection” or “ASU” and will not cover you against unemployment. However, the payments for loss of income due to accident or sickness could be paid until retirement.