Benefits and options
For Whole of Life Protection Plan
Some benefits are automatically included in our Whole of Life Protection Plan whereas others can be added for an extra cost.
Optional benefits must be added when the Plan is first taken out.
Some benefits are automatically included in our Whole of Life Protection Plan whereas others can be added for an extra cost.
Optional benefits must be added when the Plan is first taken out.
We’ll cover your client from when we receive the application, for up to 90 days or until we accept, postpone or decline their application.
This means that if they die due to an accident during this time, we’ll pay out the amount they’ve asked to be insured for, up to a maximum of £300,000 for all applications.
The amount will be paid out if the person, or one of the persons covered sustains bodily injury which is the sole cause of death and if the death occurs within 90 days of such an accident.
The lump sum will be paid only once, either under the Accidental Death Benefit or the policy itself.
Please read the PDF file: Accidental death and cover certificate PDF size: 51.70KB for exclusions and limitations.
Allows your client to increase their cover subject to eligibility criteria without providing further medical evidence:
For Inheritance Tax (IHT)
Your client can change their policy up to three times in total, although only once for marriage/entering into a registered civil partnership or divorce/dissolution. And only once for IHT. Your client must change their policy within 6 months of the event.
Please see our PDF file: Product Profiles PDF size: 961.79 document for more details.
Your client can request to make other changes to their policy, such as:
Please see our PDF file: Product Profiles PDF size: 961.79 document for more details.
Your client can choose to increase their cover each year, 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 two, which takes into account the fact that the likelihood of claiming increases as the person covered gets older.
If the client chooses not to increase their cover one year, we won't offer this option again and the premium will stay the same for as long as the policy stays in force.
Indexation is only available when standard terms apply.
Clients won't have to pay their premiums after 26 weeks if they are incapacitated due to illness or injury and are unable to do their normal job.
Your client must be accepted without an additional premium or exclusion added and all premiums must be paid to date. The option must be selected at the start of the policy and before your client’s 55th birthday.
We’ll waive premiums after 26 weeks of incapacity and will continue to do so until your client no longer fulfils the definition of incapacity, the plan pays out or they reach age 60, whichever occurs first.
Adviser support
Your short cut to our useful tools and calculators, literature library, latest webinars and Trust Hub.
Plus, a handy guide to helping you talk to your clients about business protection and details about our underwriting process.
Webinars
Stay up to date with our products and services by signing up for our regular webinars. Expert training support also available through our CII accredited training workshops.
Protection Sales Team - 0345 273 0010
Monday to Friday 9.00am to 5.00pm.
We may record and monitor calls. Call charges will vary.
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.