An income protection plan that pays your client an income if they are unable to work due to illness or injury that is tailored to their individual needs.
- Type of Plan
- Protection only
- What is the youngest/oldest I can be to buy a Plan?
- 18/59
- What is the minimum time I can have a Plan for?
- 5 years
- Maximum age at end of Plan
- 50 to 70
- How long must I wait before making a claim (Deferred Period)?
- 1, 4, 8, 13, 26 or 52 weeks
- What is the maximum salary (before tax) you will cover?
- £100,000 per year
- Max benefit % income
- 60%
- What is the maximum benefit payment I could receive?
- £60,000 per year
- What is the longest time I could claim for?
- To Plan end date, but short-term options are also available
- Can I claim multiple times on the Plan?
- Yes
- Does the benefit payment stay the same?
- Yes - with option to increase benefit in line with RPI
- What does Incapacity mean?
- An illness or injury occurring during the cover period which prevents you from engaging in your 'own occupation'
- Are my Premiums guaranteed or are they reviewed?
- Guaranteed for the first 5 years, then reviewed annually
- Is my benefit payment linked to the retail price index (RPI)?
- If selected will increase by RPI (max 10% per year)
- Is there a waiver of Premium?
- After 'Deferred Period'
- Rehabilitation Benefit
- Yes
- Proportionate Benefit
- Yes
- Is there a guaranteed income option?
- Yes
- When and how will my benefit be paid to me during the claim?
- Twice monthly via direct credit
- Is there a tax free lump sum at the end of the Plan?
- No
- Are there additional benefits with the Plan?
- Free Member Assistance Programme
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