Income Protection - How Long Will It Pay Me For?
Income protection can, if necessary, pay a tax-free indexed monthly income to you until you retire.
There is also no limit to the number of claims that you may make.
It is therefore completely different to mortgage payment protection insurance, which will pay out for either 12, 18 or 24 months only and very often, has an overall maximum number of claim payments.
You would choose your income protection cover end date when you take the income protection plan out.
Assuming you intend to retire at 60 or 65, it would be logical to have your income protection to your preferred retirement age, but you could choose an earlier cover ceasing age if you wished.
