Income protection for cohabiting couples
Cohabiting couples share household costs — mortgage, rent, bills — but if one partner cannot work due to illness, those costs don't reduce. Income protection ensures that if illness or injury stops you working, your share of the household costs is still covered.
Do both partners in a cohabiting couple need income protection?
Both partners' income contributes to the household — so protecting both incomes makes sense. Even if one partner earns significantly more, the lower-earning partner's income still contributes to joint costs. If either partner loses their income, the household budget feels it.
How much IP do cohabiting couples need?
Each partner should be able to cover their share of joint costs plus their personal outgoings from their IP benefit alone. Most policies replace 50–70% of gross income. Ensure the benefit amount is enough to cover mortgage/rent, bills, and food without the other partner's income.
Choosing your deferred period as a couple
Consider how long household costs could be covered from savings and the healthy partner's income alone. If your partner's income alone could cover costs for 3 months, a 13-week deferred period makes sense — reducing your premium while maintaining appropriate protection.
Frequently Asked Questions
No — marital status has no impact on income protection eligibility or premiums. Cover is based on your individual income, age, health, and occupation.
Income protection is almost always individual — it's based on your personal income and your ability to do your specific job. Each partner takes out their own separate policy.