Compare Sainsbury's Income Protection Quotes Against The Market

About Sainsbury's

Sainsbury's are a provider we often refer our customers to if they need income protection. They are a reputable firm in this space and we are proud to work with them.

Although we have found that Sainsbury's’s income protection deals are generally competitive with the rest of the market, we will only place a client with them if they are the ideal provider for their needs and circumstances, having compared every alternative.

If you are wondering whether Sainsbury's is the right choice for your insurance, get in touch and we will review this for you.

What type of income protection does Sainsbury's offer?

Sainsbury's’s income protection products pay out a replacement wage if you are unable to work due to an illness or type of injury that’s included in your policy.

Types of income protection available from Sainsbury's include:

• Individual Income Protection: This is a personal policy specifically tailored to your income and needs, which may incorporate various levels of cover and associated benefits.

• Group Income Protection: Frequently offered by employers as a workplace benefit, group protection acts as a safety net for employees who are unable to work due to health issues. Coverage and potential tax implications can vary and are often standardized to suit the group.

• Short-Term Income Protection: This form of income protection provides coverage for a set, limited timeframe, generally for a period of up to 1, 2, or 5 years.

• Long-Term Income Protection: Usually involving a higher premium, this option delivers more comprehensive protection by potentially providing payouts until retirement age if necessary.

How does Sainsbury's income protection work?

When you take out an income protection insurance policy with Sainsbury's, you are required to pay a monthly premium to maintain the cover. Should you become unable to work due to an event specified within the policy's terms, the policy will provide you with a replacement wage.

This payout, typically a percentage of your gross salary (usually up to 70%), is paid out in regular instalments, with the exact amount depending on your level of cover. It is important to note that most Sainsbury's income protection policies include a predetermined deferred period, which is the time you must wait before the payments begin.

How much does it cost?

The cost of life insurance, critical illness cover or income protection with Sainsbury's will depend on the monthly premium they offer you. This will be determined by these factors:

• How much cover you need: Premiums tend to increase for higher cover amounts.

• Policy length: Longer plans cost more than shorter ones.

• Deferred period: Most policies have a waiting (deferred) period before they start paying out. Delaying payments and lengthening the deferred period can reduce your premiums, but you’ll have to wait longer before the payments kick in.
  

• Your health: Having pre-existing conditions often means that Sainsbury's will charge more for your income protection
  

• Lifestyle: Risk factors including drinking, smoking, working in a dangerous job or having extreme hobbies are all variables that can drive up premiums.

• Age: Sainsbury's charges higher premiums for older policyholders as they are more likely to pass away or become ill during the term of the agreement.

• Occupation: If you work in a ‘high risk’ job such as the police or certain types of construction, your premiums may be higher.

Typical exclusions

A Sainsbury's income protection plan won’t pay out under the following circumstances:

• Stop paying your premiums

• Are forced to go off work outside of the specified term

• Suffer a self-inflicted injury in the first 12 months

• Provided false information during the application process

• Were injured as a result of being involved in criminal activity

Do you need an adviser to apply for income protection with Sainsbury's?

While not a legal requirement, it is highly recommended that you speak to an independent protection insurance adviser before applying for income protection insurance with Sainsbury's, or any other insurance provider, for that matter.

Approaching an insurer directly is not recommended as this would mean restricting yourself to just one range of products. Consulting with an insurance broker first would give you an overview of the entire market, so you can be 100% sure you’re getting the right cover.

What’s more, independent insurance advisers often have access to exclusive deals from providers like Sainsbury's, so it’s always in your interest to seek their guidance.

At Money Helpdesk, our protection insurance experts always kick things off with a free, no-obligation chat, so it costs nothing upfront to talk to them about Sainsbury's’s product range.

Are Sainsbury's a good income protection insurance provider?

‘Good’ in this context is relative. While Sainsbury's have a solid reputation in the income protection insurance space, no insurer can claim to be the right option for everyone.

You can get an idea of how other customers have rated them by consulting leading review aggregation services such as TrustPilot, but an insurance broker can give you a better idea.

Our advisers will conduct a thorough assessment to establish just how well equipped Sainsbury's are meeting your insurance needs. Their impartial analysis will tell you whether you’re likely to have a better experience and a more suitable deal elsewhere.

Going direct to Sainsbury's is not the best option as this will limit you to just one product range and put you at risk of missing out on the possibility of a better deal elsewhere.

The best way to apply for Sainsbury's’s income protection insurance products is through an independent broker. They will compare what they would offer you with every alternative so you can find out for certain whether Sainsbury's are the right insurer for you.

Here are some of the other reasons why using a one of our insurance brokers is a better alternative to going direct to Sainsbury's:

• Our advisers have access to exclusive income protection insurance deals

• They will work out the exact amount of cover and policy type you need

• They will help you with all of your paperwork

• Our advisers can also help with other types of finance, such as mortgages

Ready to explore Sainsbury's’s income protection insurance product range with an expert and see how it compares to the alternatives? Get started with your broker here.