Setting up a policy.

The employer will need to decide the eligibility conditions including who can join and when, as well as, the level of benefits they want to provide.

What happens next

Once you’ve accepted our quote and all the information we asked for in the quote has been provided, starting cover is very straightforward.

We don’t normally need to know about salary increases during the scheme year, unless the increase takes the benefit over the free limit. Our rate guarantee is normally for two years, and any changes in benefit increases will be swept up at the next renewal date along with new entrants and leavers, depending on the accounting basis chosen. You may need to tell us about some joiners and leavers including late or early entrants.

Rate guarantee

We normally guarantee premium rates for two years (or a period agreed at the quote stage). We won’t be able to guarantee premium rates if:

• The benefit or membership varies by more than 25% during the policy year.
• The eligibility conditions are changed.
• The benefit formula or scheme earnings definition is changed in anyway.
• A new employer joins the scheme or an existing company leaves it. Let us know if this happens so that we can review our terms.