Income protection features
Limited benefit term In addition to full-term cover, some policies offer cheaper cover where the benefit payment term is limited to one or two years or more.
Guaranteed insurability option – set intervals Allows you to increase your cover without providing further medical evidence at set intervals during the plan.
Promotion/salary maximum increase The amount by which you can increase your cover without providing further medical evidence if your salary increases.
Termination ages The age to which cover can be written, enabling you to tie in cover to your intended retirement age.
Indexation Cover increases each year in order to keep in line with the rising costs of living.
Deferred period Whether a plan has a range of deferred periods to fit in with your employer’s sick pay schemes, making it more affordable.
Own occupation Pays out if you are unable to perform your ‘own’ occupation, as opposed to being unable to work in ‘any’ occupation.
Mortgage/loan maximum increase The amount by which you can increase your cover if you borrow more money without providing further medical evidence.
Claims support services In the event of a claim, gives access to a range of facilities to help and support you and aid your return to work.
Health and wellbeing services Provides additional benefits aimed at improving your lifestyle and reducing the likelihood of you falling ill.
Income protection insurance
How would you pay the bills if you were sick or injured and couldn’t work?
When the unexpected happens, we know that what matters is peace of mind from a policy you can trust. Our Income Protection Solutions cover is straightforward, simple to arrange and unique to you, providing:
- An income you can rely on
- An insurance plan that’s affordable and easy-to-arrange, giving peace of mind to you and your family
- Continued benefit if you go back to work in a reduced capacity, with a reduced salary
- Tax free payments under the current rules, although this might change in the future
When determining which income protection product offers the right level of cover, it’s important to be aware of the differences between the various policies available to you.
This Payment Protection Insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against the loss of income. For impartial information about insurance, please visit the website at www.moneyadviceservice.org.uk
Would you please send me a quotation for an Income Protection Policy