A third of employees in the UK don't have a financial backup plan if they’re affected by long-term illness or incapacity.
The UK still suffers from a savings and protection gap. Many employees ‘rent’ their current lifestyles, paying for it each month through their earnings. Take that regular salary away and it may not just be their house that they lose, but their entire lifestyle.
Designed to pay out a monthly benefit if your client is unable to work due to incapacity caused by illness or injury, resulting in a loss of earnings while covered by the plan.
| Benefit payments | Up to £16,667 per month (£200,000 per year) on our standard (level) and Low Cost Option plans. | |
|---|---|---|
| Guaranteed premiums | Yes | |
| Deferred Periods | A choice of 4, 13, 26 or 52 weeks. | |
| Stepped Benefit | Yes | |
| Low cost option | Yes | |
| Increasing cover | Increasing cover is available. | |
| Continuous Cover | Yes | |
| Hospitalisation Benefit | Yes | |
| Income Guarantee | Yes | |
| Life Cover | - If the insured person dies during the length of the plan, we'll pay out an amount equal to their annual premium, or 12 times the monthly premium | |
| Linked Claims | Yes | |
| NHS sick pay protection: For NHS doctors, nurses and surgeons | The plan can be set up on a 26/52 week stepped benefit basis which matches the NHS sick pay structure after five years of service. For claims made before reaching five years of service we will match the sick pay structure applicable to them at the time. | |
| Proportionate Benefit | Yes | |
| Rehabilitation Support Service | Yes | |
| Waiver of Premium | Yes | |
| Changing Your Policy (Also known as Guaranteed Insurability Option) | Can increase cover on certain specified events, without need for further medical evidence. Eligibility criteria and restrictions apply. | |
| Other changes | Your client can request to make other changes to their plan. A new policy may need to be set up. | |
| Find out more |
Your short cut to our useful tools and calculators, literature library and latest webinars.
Plus, a handy guide to helping you talk to your clients about income protection and details about our underwriting process.
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This website is designed to give professional financial advisers information and tools that they can use to help control and develop their business and should not be relied upon by private investors or any other persons.