Income protection insurance can help replace part of your income if you cannot work because of a sickness or injury, which may make it easier to keep up mortgage repayments and household bills. It is different from mortgage protection insurance, and home loan lenders do not generally require it. Policies can have waiting periods, benefit periods, exclusions and eligibility requirements, so check the wording carefully before applying. A licensed financial adviser or insurer can help you assess whether the cover, cost and level of protection suit your income, debts and personal circumstances.