Highly rated by our clients on independent reviews website reviews.co.uk

Highly rated by our clients on independent reviews website reviews.co.uk

Highly rated by our clients on reviews.co.uk

Legal & General Income Protection Insurance

Income Protection Insurance.  Enjoy 3 Months' FREE cover

Fill in the form on this page with the code BL3MF to qualify for THREE MONTHS’ FREE COVER when you set up your income protection policy with us.

Legal & General Income Protection Insurance – Introduction

Founded in a Chancery Lane coffee shop in 1836, Legal & General plc is a leading insurer in the field of protection insurance, with more than 10 million customers worldwide in 2016.

In 2015, Legal & General won the COVER Excellence Award for their income protection.

Here at Black Lion Insurance, our opinion is that Legal & General income protection insurance suits people in relatively low-risk occupations (see more below), This notwithstanding, cover is comprehensive and could provide generous benefit pay outs in the case of a claim.

Financial Strength

Legal & General is one of the largest insurance companies in the UK.  Not only that, as a member of the FTSE 100 index it is also one of the biggest companies.

L&G held an Insurance Groups Directive surplus of £4 billion in 2011; this is over twice the regulatory requirement.

Legal & General Income Protection Insurance.
Your At-a-Glance and Comparison Guide

In our opinion, income protection insurance is a must-have.  If you are self-employed as a Contractor, a Director or in a senior position in your job, that proverbial rainy day may be a long way from your everyday considerations

We understand.

However, life events occur when we least expect it.  Accidents and unexpected illnesses can, and do, catch us all up short.

And, have you given much thought to what would happen if you were unable to work in these circumstances?  Well, we’re guessing that you have, as you’re on our website.  Welcome.  Most people, however, are not thinking about insurance.  There’s “stuff” going on.

We get that, too.

Black Lion Insurance offers exceptional advice to individuals like you in senior self-employed roles, enabling you to keep a roof about your head with benefits payments through income protection insurance.

What is Income Protection?

Income Protection insurance (IP) is designed to pay out on a monthly basis to replace some or most of your salary should you be incapable of working.  You could receive between 50-70% of your gross income.

In the event of a claim (and after a potential deferred period), you could cover your mortgage, your bills and living expenses.  It’s total peace of mind for you and your family.

Regarding Legal & General income protection insurance, please feel free to read our comparison guide for information and refer to us for more in-depth advice.  As holistic, whole of market advisers we have bargaining power with our retained insurers – and as you can see, we offer 3 months’ additional cover for FREE.

Importantly, we know the income protection market inside out, sideways and back to front.  We’re here to help, educate and inform our customers so that they can make the best choice.

Here are some key points about Legal & General:

  • Aviva offers “own occupation” cover, enabling you to claim if you are unable to carry out your own profession or job, rather than any occupation.
  • If you have a profession category considered by Legal & General to be “lower risk”, L&G’s cover could be ideal. For example, you are more likely to qualify for income protection if you work in an office for most of the time, say 75%. If you are an agricultural worker, or a stunt artist, L&G’s cover will not be suitable for you.
  • Legal & General offer a maximum cover benefit of up to £200,000 per year. Therefore, this cover could suit higher earners well.
  • When your policy commences, you can choose to index it so that it stays in line with the Retail Price Index. If, however, RPI is increased, your premiums will go up by 1.5 times RPI.  Also, L&G limit increases in your monthly benefit to a maximum of 10%.
  • Legal & General income protection insurance product includes an Income Guarantee. If your salary decreases during the lifetime of the policy, you are guaranteed an income of either your initial entitlement, or £1,500 per month – whichever is lower.
  • In the event of a claim, if you work 16 hours a week and are not receiving a regular wage, or if you are unemployed when you claim, if your incapacity includes everyday activities (there are definitions for these) you could still be eligible for pay outs.
  • If your salary decreases during the lifetime of the policy and you claim, you will receive benefits either based on £1,500 per month or the original benefit that was agreed (whichever is the lower)
  • Activities of Daily Living. Although L&G uses own occupation cover, ADW cover is relatively strict, stipulating that you must be severely incapacitated in order to claim.  Activities could include walking, reading, writing, bending over and speaking.

Overview of Key Policy Details

Policy Type Income Protection
Premium Guaranteed or reviewable.
Maximum Claim Duration Unlimited

Limited term option available with a maximum benefit period of 2 years.

Incapacity Definition Own Occupation

If you work 16 hours a week, L&G will use their “Activities of Daily Living” incapacity calculator.

Deferred Period 4/ 8 / 13 / 26 / 52 weeks
Indexation Optional.

L&G will increase your benefit by the RPI (if you select this option), however, the premium will rise by 1.5 times the RPI.

Waiver of Premium Automatically included
Maximum Cover (% of income) Up to 60% of your gross earnings or up to a maximum of £200,000 per year.

The maximum monthly benefit is 60% of gross earnings up to £60,000 per year or 50% over £60,000.

Index linked policies are limited to a maximum of £100,000 per year.

Minimum Entry Age 18 years
Maximum Entry Age 60 years.
Maximum Policy Term Up to your 70th birthday or your chosen cease age.
Guaranteed Insurability Yes

Salary increase

Marriage or civil partnership

Mortgage increase

Every 3rd anniversary of your policy

Guaranteed Benefit The lower of £1,500 per month or your chosen monthly benefit at the start of your policy.

Some Key Points About Legal & General.  Plus additional benefits to help you recover.

Second Medical Opinion Service.  Legal & General offer you access to a second opinion on your diagnosis, should you so choose.  You will be given up to £300 for a private consultation, plus a supporting report which will be sent to you and your GP

Should you require hospital treatment, L&G provide Hospitalisation Benefit of up to £150 per night, payable for up to 13 weeks.  This is available until the end of the deferred period or until you leave hospital, depending on which is the soonest.  added value element of your cover.

Life Cover.  A lump sum equal to 12 times your monthly premium will be paid out to your family if you die during the lifetime of the policy.

Continuous Cover.  Legal & General will continue your cover even if you lose your job or go on maternity or paternity leave.

If you travel to or live in any part of the EU, USA, Canada, Australia, New Zealand, Isle of Man or the Channel Islands, you will benefit from overseas cover with L&G.  However, if you claim whilst travelling or living in any country not covered, your benefit will be paid for a maximum of six months.

Evidence and Proof.  As with all income protection insurers, you will need to offer proof of incapacity, such as medical reports, as well as proof of earnings for the last 12 months. You will also need to provide some form of written consent.

Do YOU need advice from Black Lion Insurance?

Our aim is to help you make an informed choice on insurance products and we have the financial expertise and experience to help you do just that.

In our view, L&G’s own occupation and Activities of Daily Living stipulations make it very important that you take qualified financial advice in order to find the best cover for you, your circumstance and your family.

So, to answer your question – yes, you do need our advice, at least in our opinion.  We may be able to negotiate some excellent price options for you, too.

Should the worst happen, income protection insurance could be the best cover you ever bought, but it has to be the right one.

Income Protection Insurance.  Enjoy 3 Months' FREE cover

Fill in the form on this page with the code BL3MF to qualify for THREE MONTHS’ FREE COVER when you set up your income protection policy with us.

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Do you need income protection insurance?

Income protection insurance would be vital to you if:

  • You are self-employed and would not be able to pay the bills if you were unable to work. It would ensure that you would be able to pay your bills if you were ill or injured.


  • You are the sole income provider and would not be able to pay the bills if you were unable to work. As the sole source of income, choosing income protection insurance is the best way to protect yourself and your family financially. Find the best policy for you, to ensure you can pay the bills and monthly outgoings if you suffered an accident or sickness that meant you could not work.

Income protection insurance is important to you if:

  • You are self-employed, and you don’t have a large amount of savings that you are happy to dip into. Consider taking out an accident and illness policy for maximum protection.


  • You are the sole income provider and your employer offers sick pay. Check what level of sick pay you would get from your employer before making a final decision about income protection insurance. Few companies offer long term sick pay beyond the Statutory Sick Pay, so it is important to have all the information in advance.


  • You live in a joint income household but are unsure if your partner would be able to cover the financial responsibilities. If your partner’s salary couldn’t cover the bills, then it would be worthwhile considering an income protection insurance policy.

How does an income protection insurance policy help when you need to claim?

You stop working due to an accident or illness, and stop earning an income.

You inform us, and we will guide you through the claims process with the insurer.

You will start to receive your monthly payout.

The monthly payout will continue for as long as your insurance policy covers.

What are your policy options?

Short-Term or Long-Term Protection
There are two types of accident and sickness insurance plans.
Short-term plans usually range from 6 months to 2 years. Long-term plans will pay out until you are well enough to go back to work, whether that’s 1 year or 10 years.
Deferred Period
A deferred period, or excess period, refers to the duration of time between stopping working, and when your insurance policy will start to pay out.
This can range from just a couple of days, up to a whole year. The standard length of time for most long-term insurance policies is 4 weeks.
Indexation helps to protect your policy against inflation. Your monthly payments will increase each year, to reflect any increases in costs according to the Retail Prices Index (RPI).
Policy Cease Age
Your insurance policy cease age is how old you will be when the policy will end. This is normally the age you will retire at but could be older.
Maximum Pay-Out Period
This refers to the longest length of time that you can make a continuous claim on your income protection insurance. For short-term policies this could be from anything between 6 months to a couple of years. There are not usually restrictions with a long-term policy. You will receive payments until you are either able to return to work, or you reach your policy cease age.

What affects the costs of your policy ?

Monthly Payout

The higher your monthly payout amount, the higher your policy premium.

Deferred Period

The longer the length of time before your policy pays out, the cheaper your premium.

Medical History

Previous illnesses or injuries may increase policy premiums or be excluded from your cover.

Policy Cease Age

The longer the policy runs, the higher the premium will be.


The older you are, the premium is likely to be higher.

The costs of your insurance depend on various factors.
The more you want to insure for each month, will subsequently increase your premium, as well as the length of the policy and your deferred period.
Your age can also play a role. The older you are, you are seen as more likely to make a claim and so your policy premium will reflect this.
It is important to declare any previous medical conditions or illnesses. Certain disorders may not be covered by your income insurance and others may mean you incur a higher premium.
You will also be asked about your smoking status. Smokers are deemed higher risk resulting in a higher cost for your insurance.

What our clients are saying

Black Lion insurance were great in helping me get through the countless jargon and pitfalls when it comes to setting up insurance. I was thankfully recommended to them by a colleague and they made the process seamless ensuring I have the most appropriate policy for me.

I’m an IT contractor and I wasn’t sure if I was eligible for this cover, however, to my delight, not only could I have the cover, but I could pay it through my Ltd company. I was covered within an hour of getting in contact. Very prompt and informative service!
Sanjay P

Polite and very clear when explaining my product of interest. Happy to answer any questions and recap on areas that I wanted to ensure I understood clearly before committing. Didn’t feel pressured or rushed at any point and the chap was very pleasant.
Donna Rudd

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About Us

We are a dedicated team of financial advisers, with years of experience in guiding our clients to a solution that meets their specific needs. We specialise in helping both employed and self employed individuals, as well as business owners on a variety of solutions, which range from life insurance, income protection insurance, keyman insurance and shareholder protection insurance.

The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.

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Black Lion Insurance & Black Lion Wealth are a Trading Style of PRG Protect Ltd

PRG Protect Ltd: Registered in England & Wales, No. 08286239.  Registered Office: 51 The Parade, Cardiff, South Glamorgan, Wales, CF24 3AB