Short Term IP

A straightforward income protection policy with all the benefits of our Purely IP with Guaranteed Premiums on either a level or escalating basis at the outset. Designed to provide 1 or 2 years income protection, it’s ideal for those not concerned about the effects of long term ill health.

This plan benefits from having:

  • Guaranteed premiums - allowing members to budget with financial certainty
  • Payout period – maximum of 1 or 2 years, depending on the term chosen, during a single or related claim, multiple claims can be made during the lifetime of the policy
  • Level or escalating premiums - the option to have premiums increase with age in line with the published rate table or for them to increase with age and keep pace with the cost of living (RPI) on 1st January each year.
  • Waiver of Premium - applied immediately following the chosen deferment period
  • 'Own Occupation' definition of incapacity
  • No Occupational, Gender or Smoker loadings.
  • Minimum term 5 years
  • Maximum age at entry is 59
  • One year benefit payment terms
  • Ability to Guarantee Benefit level  - No financial underwriting at claim, subject to proof of income at application
  • Deferment Period options1, 4, 8, 13 or 26 weeks.
  • Maximum Cover - Up to 60% of gross income to a maximum of £654 a week or £34,000 per annum.
  • Access to our Members Assistance Program
  • A choice of retirement age between 50 and 70 inclusive.
  • Career break, Maternity/Paternity cover and premium holiday facility.
  • Rehabilitation Benefit, Proportionate Benefit, Terminal Illness Benefit, and Medical Expenses Benefit are automatically included.