Our Key Person 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.
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.
Cover increase options - your clients can increase their cover in certain circumstances, without giving us any medical information.
Choice of payment periods - your clients can choose from one to five years, allowing them to tailor the cost to the business need.
Reassuring - we'll cover up to 75% of the gross profit attributable to the key person up to a maximum of £250,000 a year.
Personal support - Our Helping Hand Support Service provides access to independent support including a recruitment helpline which can help with sourcing cover for a key member of staff, as well as a legal helpline which can help with questions around employment law. The service also gives your clients and their partner and children access to practical and emotional support on their journey towards recovery.
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 payments will continue until the first of the following happens:
For full terms and conditions, including our definitions under Key Person Income Protection see our plan details.