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.

We encourage you to read all the information in this section. Our friendly experts are happy to answer any questions you have over the phone. They can also talk to you about what’s covered under Income Protection Solutions, the options available and the costs involved.

A reminder, what does Income Protection Solutions do?

It’s important to know that income protection does not pay you an income if you’re made redundant or lose your job. But if you can’t work due to accidental injury or ill health, then 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.

If you’re not sure how much cover you can apply for, use our maximum benefit calculator to find out.

No matter how many eligible claims you make, we’ll pay them as long as the policy is in place. So if you couldn’t work due to ill health or injury for three separate qualifying periods in a year, for example, we’d pay all three claims.

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

We’ll ask you how long you would like your deferred period to be – that’s 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, we’ll ask you to tell us at what age you’d like your policy to end. Then, once it’s set up, it will 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 – but if you’re unsure about what this would mean for you, then a financial adviser will be happy to answer your questions.

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?

As healthcare experts, 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 easy to call, it’s free, and it’s completely confidential. Talking about stress, and its causes, can help relieve some of the pressures you’re feeling.
A rehabilitation benefit. If you return to your normal job after a claim, but the illness or injury that you claimed for restricts your duties and you earn less, we may still pay you a percentage of your benefit.

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.

Most importantly, Income Protection Solutions does not pay an income if you are 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 for your circumstances, then your financial adviser will be happy to help.

What else do I need to know?

Before we can issue a policy, we’ll ask you to take part in a Teleinterview – it’s part of our information gathering process. We’ve included more details about this on our What’s a Teleinterview? page.

Full details of cover are in our Income Protection Solutions policy wording, which you’ll find in the Useful information box on this page. If we accept your application, you'll need to complete an application form for us to work out the final terms of your policy. Depending on your circumstances, non-standard terms may apply.

So, what’s next?

As healthcare experts, we think it’s important to make our policies straightforward and easy to use. Just follow these three simple steps if you’d like to put Income Protection Solutions into place:

Step one – tell us about yourself

We’ll ask you for some basic details before we give you a cost for Income Protection Solutions. If you want to go ahead with your application, then we’ll also ask you for some information about your lifestyle and medical history. This helps us build the policy that’s right for you, and makes sure that you’ll get the maximum benefits at a cost you can afford.

If you’d like to find out how much we could pay you as an income, you can use our maximum benefit calculator.

We’ll gather the more detailed information through our Teleinterview process. It’s free of charge, and we’ll arrange it at your convenience.

Step two – let us know how Income Protection Solutions can help you most

The beauty of income protection is that you decide which options suit your lifestyle. You can tell us which deferred period you’d like to have in place; whether you’d like extra cover without another medical assessment at life events (like having children or get married), or if you’d like the option to restrict your cover and reduce your premiums if you take a temporary career break, such as a long term sabbatical, retraining, or having children.

Step three – enjoy the extra benefits of Income Protection Solutions

As healthcare experts, we want Income Protection Solutions to help you cover the costs of living if ill health stops you working, but we think getting on the road to recovery is just as important. So, free of additional charges, we include:

Access to a 24 hour GP helpline, and a 24 hour Stress Counselling helpline
Rehabilitation support, helping you get back to work as soon as possible
Expert help from us, every step of the way during your claim

WC05186 03/2013

Income protection