Rental Protection

Rental Protection Plans

Rental Protection Plans can help you pay the rent on your home when you can’t.
Contact Us

Why do you need Protection Planning

Taking a typical non-smoking couple aged 40; before they reach 65, they each run the following risks:

  • 7% chance of dying
  • 22% chance of becoming seriously ill
  • 54% chance of being unable to work for at least 2 months
  • 61% chance of one of these events happening
If any of these unfortunate events were to happen to you, do you know how long your household could pay the rent and cover the day to day living expenses? 


Rental Protections Plans

Rental Protection Plans provide the peace of mind, that if one of these events were to happen to you, then your partner, spouse or a family member would be able to pay the rent and continue to cover your day to day living expenses.

A 30-year-old can obtain Rental Life Insurance to cover their monthly rent of £1,500, for less than £2.50 per week*
Source: Legal and General -  30.01.2023

*Rental Life Insurance – a person aged 30, non-smoker, monthly cover of £1,500 over 20 years increasing annually by RPI - £9.06 per month 
What is covered?
Rental Income Protection Benefit 
Designed to provide a regular monthly benefit which could be used to help cover rent payments if you can’t work due to incapacity caused by an illness or injury resulting in a loss of earnings, during the length of the plan.

Rental Life Insurance 
Designed to provide a regular monthly benefit in the event of your death during the length of the plan. This could be used by your surviving family to help cover rent payments.

Rental Life Insurance with Critical Illness Cover 
Designed to provide a regular monthly benefit in the event of your death or diagnosis of a specified critical illness, during the length of the plan. This could be used by the surviving family to help cover rent payments.

What is the duration of the cover?
Rental Income Protection Benefit
This policy can be taken out from your 18th birthday up until your 60th birthday. If the tenant is 45 or over when they take out the policy, the minimum length of the policy is five years. There may be certain occupations that have limitations on the length of the policy.

Rental Life Insurance
The minimum length of cover is 5 years and the maximum length of cover is 40 years. 

Rental Life Insurance with Critical Illness Cover
The minimum length of cover is 5 years and the maximum length of cover is 40 years.
Who is covered?
Any tenant can take out the cover. It can be taken out on a Single Life basis to cover the main income provider in the household or family or on a Joint Life basis where the benefit will pay on the first incident whether this would be death, the diagnosis of a critical illness or an injury or illness that would prohibit the tenant from being able to work.

How can you obtain this cover?
You can speak directly with GFP UK to organise a mutually convenient meeting time. The meeting will be in person or on the telephone and will consider your unique circumstances. GFP UK will provide advice and quotes to you. The application process can be completed with GFP UK online or in person.

Can the cover be transferred to another property?
Yes, the cover is specific to the tenant not to the property.

What is the cost?
You will be provided with bespoke individual advice and individually costed quotes, tailored to your unique circumstances.  

Example costs for Rental Life Insurance provided by Legal and General for non-smokers, monthly cover of £1,500 over 20 years increasing annually by RPI
Age Single Life Joint Life
20 £6.00* £9.24
30 £9.06 £15.32
40 £13.62 £22.82
Source: Legal and General -  30.01.2023
*monthly cover of £1,761

Further information

For further information on Rental Protection Plans and to book a meeting with a Financial Adviser, please complete our How to contact us section.

The information and content within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.
Share by: