For Whole of Life Protection Plans Only

With this option the client can help ensure their cover keeps pace with inflation.

Indexation protects the policy against inflation. Every year, we’ll give the person covered the option to increase the amount they are insured for, in line with any changes in the Retail Prices Index (RPI) without the need for further medical evidence. If this option is chosen the premium will also increase.

The amount of cover will increase each year up to a maximum of 10%. If changes to RPI are 1% or less then both the premium and amount of cover will stay the same until the next review. The premium will increase at a different rate to the amount of cover because it is indexed in line with the change in RPI, multiplied by 2, which takes into account the fact that the likelihood of claiming increases as the older the person covered gets.

If the person covered decides not to increase the amount they are insured for, we won’t offer this option again and the premium will stay the same for the period the policy remains in force.

Indexation doesn’t apply if the person covered has an additional premium added at the start of their policy.