Why use Income Protection Benefit?

Income Protection Benefit pays out monthly when you’re too ill or injured to work. Brought to you by Nationwide and provided by our trusted partners Legal & General.

This cover could help you pay the mortgage or rent, bills and everyday expenses.

  • Tax-free monthly pay outs
    To help cover loss of earnings until you're well enough to get back to work; you reach your chosen retirement age; or the end of the plan, if you do not recover.

  • Flexible cover with long-term pay outs
    Choose how soon you’d want your monthly pay outs to start and how long the policy needs to run.

  • Fixed monthly payments throughout your policy
    Unless you make a change or have chosen an increasing cover policy.

  • Financial advice
    Our expert Financial Planning Managers are here to help identify your needs and make recommendations about the cover that’s right for you.


Terms, limits and exclusions that apply are explained in the Policy summary - PDF 298KB (opens in a new window).

To apply for Income Protection Benefit

You need to be:

  • Aged 18 to 59 years old
  • A UK resident
  • Registered with a UK GP for 2 years or more
  • A Nationwide member

You’re a member if you have a current account, savings or mortgage with us.

Find out more about Nationwide membership


Income Protection Benefit does not include:

  • Unemployment cover
    This policy pays out if you’re off work due to illness or injury.

  • Cover for over 70s
    Any policy you take out will end on your 70th birthday or chosen retirement age, whichever is earlier.


Income Protection Benefit is not a savings or investment product – it will only pay out if a valid claim is made.

Want to learn more about covering your income? Read our Nationwide Income Protection Insurance guide

Your options

Before you take out a policy, you’ll want to think about:

  • Level of cover - how much income you’d want to replace.
  • When your pay outs will need to start.

Level of cover

You choose the monthly pay out you would like to receive, based on your current earnings.

Less any other income you would have while not working, you can choose to receive up to:

  • 60% of your gross earnings up to £60,000 per year, and then,
  • 50% of your earnings over £60,000 per year, capped at £240,000.

When your pay outs will start

You decide how soon you would start receiving your pay outs.

You can choose whether your pay outs start after a waiting period of: 4, 8, 13, 26 or 52 weeks. Pay outs are in arrears.

Generally, the longer the time period, the lower the premium is likely to be.

Types of cover

Choose from:

  • Level cover - a monthly pay out that stays the same unless you make a change.
  • Increasing cover - your monthly pay out would rise in line with inflation. This might cost more.

How to get advice and apply

To get a quote and apply you will need to book an appointment with one of our expert Financial Planning Managers, who will:

  • Help identify your needs.
  • Make recommendations for protection to suit your personal circumstances.
  • Help you make your application.

Before you apply

Please read the terms, limits and exclusions that apply and check you’re happy with them. Save or print these documents before you apply:

Book an appointment