Rental Protection Plan
Life insurance, critical illness cover and income protection for renters
Rental Protection Plan is designed to protect your clients who rent their home. It could help financially protect your clients by providing a monthly benefit which can be used to help pay the rent, in the event of a valid claim.
Your client can also choose from three options
Which are all exclusive through advisers.
Rental Income Protection Benefit
Designed to provide a regular monthly benefit which can be used to help cover rent payments if your client can’t work because of an illness or injury.
Rental Life Insurance
Designed to provide a regular monthly benefit for your client's surviving family. It can be used to help cover rent payments in the event of your client’s death.
Rental Life Insurance with Critical Illness Cover
Designed to provide a regular monthly benefit for your client or their family. It can be used to help cover rent payments if your client dies or is diagnosed with a specified critical illness.
Reasons to recommend Rental Protection Plan
Key features and benefits
Designed with renters in mind
If your client stops renting and takes out a mortgage, it’s easy to switch to our Income Protection Benefit plan. Available on Rental Income Protection Plan only.
We’ll beat competitors
In some instances, you may be able to use Price Beater to get the best price for your client. Please see our Price Beater guide for more details.
Increasing your cover option
Allows your client to increase cover on specified events, including if their rent increases, without further medical questions. Eligibility criteria and restrictions apply.
Advanced payments for funeral costs
Families can receive an advance payment of up to £10,000 on a valid life insurance claim to help cover funeral costs, with payment made directly to the Funeral Director. Terms and conditions apply.
Valuable cover for difficult times
Because it’s more than just a roof over their heads, it’s home.
Product details
For full details, see key documents for the Policy Summary and Policy Terms and Conditions.
Rental Income Protection Benefit
For full details, download the Product Profiles PDF: 905KB document
| Minimum cover |
No minimum monthly benefit. Driven by minimum premium. |
| Maximum cover |
If considered a houseperson – working less than 16 hours per week: £1,667 a month/£20,000 a year. |
| Minimum term |
5 years but cannot end before 50th birthday. |
| Maximum term |
Depends on the age of the client when the policy ends. |
| Minimum age |
18 to buy a plan. |
| Maximum age |
The day before 60th birthday to buy a plan. |
| Policy must end before |
70th birthday. There may be certain occupations that have limitations on the length of the policy. |
| Type of cover |
|
| Premiums |
Guaranteed unless increasing cover is chosen. |
Benefits and options
|
Increasing your cover (previously known as Guaranteed Insurability Option / Changing your policy) |
Can increase cover on certain specified events, without need for further medical evidence. Policy can be switched to Income Protection Benefit if they take out a mortgage. 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. |
| Continuous Cover |
Automatically included. |
| Deferred Period |
Your client can choose from 4, 8*, 13, 26 or 52 weeks. *Minimum deferred period for most driving based occupations |
| Income Guarantee |
Automatically included. |
| Life cover |
Automatically included (equal to 12 x monthly premium). |
| Linked Claims |
Automatically included. |
| Limited benefit period (also known as Low Cost options) |
Optional. The benefit for any individual claim is limited to 12 or 24 months, depending on which option is chosen from outset. Not available with Stepped Benefit. |
| NHS sick pay protection |
For NHS dentists, doctors, nurses, midwives and surgeons. |
| Proportionate Benefit |
Automatically included. |
| Rehabilitation Support Service |
Automatically included at the point of claim. |
| Stepped Benefit |
Optional. Two levels of benefit can be chosen with two different deferred periods. Not available with the Limited benefit period (also known as Low Cost Option). |
| Waiver of Premium |
Automatically included. |
| Wellbeing Support |
Access included as standard. Service provided by RedArc Assured Limited. |
Rental Life Insurance
For full details, download the Product Profiles PDF: 905KB document
| Minimum cover |
No minimum cover amount. Driven by minimum premium. |
| Maximum cover |
£10,000 a month. |
| Minimum term |
5 years |
| Maximum term |
40 years |
| Minimum age |
18. It is possible for a life of another policy to be taken on a 17 year old by an adult with insurable interest. This policy can then be placed in an Absolute Trust with the 17 year old as the beneficiary. Minimum age at the end of the policy is 29. |
| Maximum age |
64 years old |
| Policy must end before |
70th birthday |
| Type of cover |
|
| Premiums |
Guaranteed unless increasing cover is chosen. |
Benefits and options
| Accidental Death Benefit |
Automatically included. |
| Increasing your cover (previously known as Guaranteed Insurability Option / Changing your policy) |
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. |
| Terminal Illness Cover |
Automatically included for all policies with a term of two years or more. |
| Waiver of Premium |
|
| Wellbeing Support |
Access included as standard. Provided by RedArc Assured Limited. |
Rental Life Insurance with Critical Illness Cover
For full details, download the Product Profiles PDF: 905KB document
| Minimum cover |
No minimum cover amount. Driven by minimum premium. |
| Maximum cover |
£4,000 a month. |
| Minimum term |
5 years |
| Maximum term |
50 years |
| Minimum age |
18. It is possible for a life of another policy to be taken on a 17 year old by an adult with insurable interest. This policy can then be placed in an Absolute Trust with the 17 year old as the beneficiary. Minimum age at the end of the policy is 29. |
| Maximum age |
64 years old |
| Policy must end before |
75th birthday |
| Type of cover |
|
| Premiums |
Guaranteed unless increasing cover is chosen. |
Benefits and options
| Accidental Death Benefit |
Automatically included. |
| Increasing your cover (previously known as Guaranteed Insurability Option / Changing your policy) |
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. |
| Children’s Critical Illness Cover |
Automatically included. |
| Terminal Illness Cover |
Automatically included. |
| Total and Permanent Disability |
Can be included for an additional cost. |
| Waiver of Premium |
|
| Wellbeing Support |
Access included as standard. Provided by RedArc Assured Limited. |
Key documents and tools for new business applications
Existing customers should always refer to the policy documents supplied when they purchased their product.
Key documents
Key documents
Tools and calculators
Support from Umbrella Benefits
Rehabilitation Support Service
Included as standard with income protection. Supports a quicker return to work, and good physical and mental health.
Wellbeing Support
Access included as standard on protection policies. Personalised practical and emotional telephone support from a registered nurse.
Care Concierge
A free telephone service which gives your client and their family access to adult and later life care experts.