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'Classic' offers your clients a Day 1, low cost income protection plan, with a range of options.
- No Occupational, Gender or Smoker loadings.
- Deferment Period options - Day 1 or 4, 13, 26 and 52 week deferred.
- Definition of Incapacity - 'Own Occupation' carried on all occupational classes throughout the term of the contract.
- A choice of retirement age between 50 and 65 inclusive.
- With profits element - Following 24 months membership there is an annual profit allocation and compound bonus.
- Full benefit paid for the first 52 weeks of a claim, reducing by 50% thereafter.
- Entitlement of a full benefit is reinstated following a 12 month claim free period.
- Index linked benefit available at no extra initial cost.
- Maximum Cover - Up to 60% of gross income to a maximum cover level of £700 per week or £36,400 per annum.
- Premiums increase with age attained every 4 years on the 1st January in line with the published rate table.
- Rehabilitation Benefit, Proportionate Benefit, Terminal Illness Benefit and Medical Expenses Benefit are automatically included.
Please read in conjunction with the "Classic" Plan Key Features Document.
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