Product details of our Income Protection

• Basis – single life
• Premiums – guaranteed
• Payment of cover – Monthly income: level or increasing
• Payment period – 1 year, 2 years, 5 years or whole term
• Deferred period – 4, 8, 13, 26 or 52 weeks.

• Term – 5-52 years
• Age when cover starts – Minimum 18 attained, Maximum 59 attained
• Age when cover ends –  Maximum 70 attained
• Maximum cover amount – up to 65% of the first £60,000 of pre-incapacity earnings, plus 50% of the remainder, up to £250,000 a year.

To help protect against the effects of inflation your clients can choose to increase the amount of cover over the term of their plan in one of two ways:

• Fixed rate – at a chosen rate of interest (between 2% and 5%). There’s an extra cost for this option
• Index-linked rate – based on the change in the retail price index (between 2% and 10%). There’s an extra cost for this option.

The amount of cover paid out at claim will never be less than the lower of £1,750 each month or the amount of cover on the plan.

If at claim your client's earnings are less than the amount of cover they have on their plan, we'll pay the lower of:

• the amount of cover on their plan subject to a minimum of £1,750 a month, or
• the amount of cover on the plan at the time of the claim.

This provides greater protection for your client if their income drops after the cover is taken out.

We'll continue to pay your clients a monthly income until:

• they return to work
• they die
• the end of the term of the cover
• they no longer meet the definition of incapacitated
• the cover payment period ends.

If your clients return to work after a claim and the illness (or a related one) recurs, we might be able to restart their payments again (subject to certain conditions). If the illness recurs within 52 weeks, the deferred period won’t apply and your clients can start getting payments right away if they meet our definition of incapacitated.