Our Income Protection pays out a monthly income at the end of the deferred period if the person covered is either unable to work because of an illness or injury or is unable to carry out a number of everyday tasks and meets our definition of incapacitated.
If the person covered meets our definition of terminal illness, they won't need to wait for the deferred period to end before we start making payments.
Our Income Protection is just the job to provide your clients with financial support to help them if the wheels fall off and they’re unable to work for a period of time due to illness or injury.
Research shows that 41% of people would struggle to pay their bills if they couldn’t work for six months, but only 10% of people have cover in place to protect their income*. Stats to drive home the real need to help your clients avoid the potentially devastating effect of illness on their household finances.
Traditionally, Income Protection has been seen as complex and slow to pay out when people need it most.
We’ve ‘tuned up’ our offering to give your clients a range of new benefits so they’ll get the financial help they need - when they need it.
Fracture cover of up to £4,000 per claim; with two claims allowed in a 12 month period.
A hospitalisation payment of £100 per night, that’ll start after your client spends more than six consecutive nights in hospital.
A payment of 12 months’ premiums if the person covered dies during the term of the cover.
Back to work payments... and we’ll waive the deferred period if your client is diagnosed with a terminal illness and has less than 12 months to live.
But that’s not all! We’ve developed a tiered approach to help clients protect more of their income – up to 65% of the first £15,000 of pre-tax income plus 55% of the rest.
Employed clients running their own company can include things like dividends, a nominal spouse’s salary and P11D benefits. And your self-employed clients can include certain fixed overheads.
And our adaptable claims philosophy means we do our best not to stall things while we’re waiting for financial evidence.
Your clients can choose their own cover. They can decide between level or increasing cover, select the length of their deferred period and choose how long they need their cover to pay out for.
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:
We’ll continue making payments until the first of the following happens:
For full terms and conditions, including our definitions under Income Protection see our Plan Details.