Classic Plus Income Protection
The classic Holloway Friendly Plan: an income protection plan with an investment element that aims to pay a lump sum the Plan end date.
For clients who want the security of income protection to retirement age if accident, injury or illness stops them being able to work, and like the idea of a lump sum at the Plan end date.
No surprise premiums
Premiums increase as your client gets older but we'll tell you by how much before the Plan starts.
'Own occupation' cover
We pay out if your client can't carry out their job for 104 weeks, and then will provide cover on the basis of any 'reasonably suited' employment thereafter.
Covers illness, accident and injury
Our plans cover your clients whether they get ill or have an accident or injury.
No occupational or smoker loadings
We can provide cover for the majority of occupations, although the age we provide cover to may vary.
Your client can choose how long they wait before we pay an income. This means they can choose 4, 8, 13, 26 or 52.
Employed, self-employed or Company Director
We cover up to 60% of your client's gross income up to £100,000 - and payments are tax free under current rules.
Unlimited claims can be made during the lifetime of the Plan.
Waiver of premium
Premiums are waived after 52 weeks of benefits being paid.
Level or escalating cover
We offer the choice to fix benefit payments at claim or for them to keep pace with inflation.
Your clients can stop paying their premiums for up to 6 months if they are made redundant, go travelling or are on maternity or paternity leave.
We know that circumstances change – so they can increase or decrease their cover.
Choice of Plan end date
Choice to end cover between 50 and 70 years.
Your client can include or exclude these – and we’ll review them if their hobbies change so they’re not paying for something they no longer do.
If your client claims and wish to train for or start new employment at a lower salary, we may provide a partial benefit for up to 12 months to reflect their reduced income.
If your client claims and could return to their pre-incapacity occupation in a part time or reduced role, they may receive additional benefit for up to 12 months to support their transition back to fulltime occupation.
With profits plan
After 36 months your client will begin to qualify for an annual profit allocation. This Plan potentially benefits from the addition of a final bonus at the Plan end date.
Additional support for your clients
Members get free access at all times to our Member Assistance Programme.
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