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:
The amount of cover paid out at claim will never be less than the lower of £1,500 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:
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:
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.
Our Income Protection under our Business Menu Plan automatically includes fracture cover and hospitalisation payment as standard.
There’s no need to wait for your chosen deferred period to end before getting a payout and they don’t affect your main Income Protection cover.
We’ll pay up to £4,000 per fracture cover claim - we cover multiple fractures in the same claim, up to the £4,000 claim limit. And a client can make up to two fracture claims in a 12 month period.
The payout a client receives depends on the fracture site, see our plan details for full details.
If a client is hospitalised for more than six consecutive nights during their deferred period, we’ll pay £100 per night, for up to 90 nights during the term of their cover. If we’ve started paying a claim and they’re discharged from hospital, then readmitted for the same cause, we’ll restart their payments (subject to certain conditions).
We give clients with deferred periods of 13, 26 and 52 weeks a back-to-work payment in their first and second months back at work to help meet any additional expenses.
The amount they get depends on their cover payment period:
|Cover payment period||First month||Second month|
|Whole term||50% of monthly payment||25% of monthly payment|
|One,two or five years||25% of monthly payment||10% of monthly payment|
For full terms and conditions, including our definitions under Income Protection see our Business Menu Income Protection plan details.