What can this policy cover?

It pays you a benefit if you can’t work due to ill health or accidental injury, and the benefit starts after an agreed period of time, called a deferred period. You can see how much you could receive by using our maximum benefit calculator. Income Protection Solutions doesn’t pay any claims made due to redundancy or unemployment.

What does Income Protection Solutions do?

Income protection pays you an income if you can't work due to accidental injury or ill health. In these circumstances Income Protection Solutions will replace up to 60% of the first £25,000 of your gross earnings and 50% of the remainder, up to a maximum of £180,000 per year. Income protection does not pay an income if you're made redundant or lose your job.

We'll pay all eligible claims as long as the policy is in place. For example if you couldn't work due to ill health or injury for three separate qualifying periods in a year, we'd pay all three claims.

If you're not sure how much cover you can apply for, our maximum benefit calculator can help you find out.

When could I receive the income, how long could it last?

The deferred period is the amount of time that must pass between your first day off work and the point at which you can make a claim on your policy.

The longer the deferred period you choose, the lower your premiums will be. So if your employer provides sick pay for a period of time, or you have a 'rainy day' fund, you could use that first. You can choose from a minimum of 4, 8, 13, 26, 52, 56, 104 or 112 consecutive weeks.

  • Choosing a longer deferred period is a good way to keep your premiums down, but still have the peace of mind there's an income in place if you're ill for a long period of time.

Income protection policies are designed to last for as long as you're in full time employment. Because retirement plans vary, you decide at what age you'd like your policy to end. Once it's set up, it'll remain in force as long as you keep paying the premiums. The policy has no cash-in value at any time.

Would the income affect my benefits?

Any income you get from the policy may affect means-tested benefits. If you're unsure what this would mean for you, contact your financial adviser. If you don't have a financial adviser you can find one near you at www.unbiased.co.uk.

Providing your premiums are paid from taxable income, the benefit we pay will be tax-free under current tax rules, although this may change in the future.

What else could this policy do for me?

It's important to us that you have the best possible chance to make a full recovery. To help you, we'll include additional benefits and support in your Income Protections Solutions policy at no extra charge.

  • A hospital benefit of up to £75 per night if, due to the illness or injury you're claiming for, you need to spend time in hospital for more than 7 consecutive nights during the deferred period.
  • Access to a 24 hour GP helpline, to give you professional guidance on health concerns day and night.
  • A 24 hour stress counselling helpline. It's free to call and completely confidential. Talking about stress and its causes can help relieve some of the pressures you're feeling.
  • A rehabilitation benefit. We may still pay you a percentage of your benefit if on returning to work the illness or injury you claimed for restricts your duties and you earn less.

What’s not included in Income Protection Solutions?

It's important to us that you're confident about the policy you have in place, and that you understand what it will or won't pay for.

Income Protection Solutions doesn't pay an income if you're made redundant or find yourself unemployed for any reason other than ill health. If you're unsure about how to find the right income protection cover for your circumstances, then contact your financial adviser. If you don't have a financial adviser you can find one near you at www.unbiased.co.uk.

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