An income protection plan that pays you an income if you are unable to work due to illness or injury up until Plan end date with the choice of automatic and optional benefit guarantee.
- 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
- 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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