British Money Income Protection Insurance

British Money offers income protection insurance under the name Universal Cover. They provide cover for unemployment, career cover and disabilities for UK citizens. This is only provided if you have remortgaged your home, have a mortgage, have taken out a loan or have a financial agreement within the last two months. British money is one of the oldest and most established insurance companies dating back to 1896.

How income protection insurance works

This policy offers a monthly sum every month which is tax free when you become unemployed, need to give up your job to become a full-time carer or have a disability which stops you from working.

Who is it available to?

You must be a UK citizen between the ages of 18 and 65 who lives and works permanently in the UK. You must also:

  • Have taken out a mortgage, remortgage, loan or financial agreement in the last 60 days.
  • Be currently in full-time employment or self-employed or in a fixed term contract.
  • Not be aware of any upcoming unemployment, such as a notice or announcement of job losses, restructure or merger.

What are the main benefits of this policy?

  • You will receive three months cover at no extra cost
  • There is no exclusion time frame
  • No excess as claims are paid after thirty days
  • Effective help finding new employment
  • Low cost up to the age of 65
  • Very easy application process
  • No one is blacklisted
  • You receive payment on top of any other sick pay received

The policy covers a wide range of medical conditions including:

  • HIV
  • Diabetes
  • Cancer
  • Heart Failure
  • Alzheimer’s Disease
  • Blindness
  • Parkinson’s Disease

As well as the benefits above, you can protect up to 60% of your monthly income before tax. This can provide you with money to pay bills, your mortgage, rent, council tax and many more services, bills and costs each month.


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