Another financial product that does what it says on the tin. Income protection protects your income after a pre-determined period if you are unable to work through accident, sickness or disability.
Products can be set to a flat level of income or an indexed level typically increasing at 3% or 5% at policy anniversary.
Either your income from work will get you through to your retirement date or the income from this policy if you cannot work.
Once either of these incomes ceases then your pension income will kick into provide your retirement income.
Unless you have substantial Wealth in liquid and / or income producing investments that can generate a high enough income to pay living and lifestyle expenses, then you simply cannot afford to not have some form of income protection.