Can my income protection insurance benefits be reduced?

Reader Question:

Can my income protection insurance benefits be reduced?

If you are currently receiving benefits from an income protection policy these can be reduced if you receive income from any of the following:

income you continue to receive from your employer
income you continue to receive from your self-employed work
any pensions you receive
any payments received from any other insurance polices made directly to you or on your behalf to a mortgage provider or loan company
any State benefits received

If you are not currently receiving benefits then potential future benefits can be reduced if:

if your earnings are reduced and the potential benefit provided falls below the maximum allowable
you should regularly review your policy to ensure that you are not in breach maximum benefit levels on your policy as most insurers will not refund premiums paid if you are over insured

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Can my income protection insurance benefits be reduced?

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