INCOME PROTECTION
Income Protection provides financial protection for your client and their family if they’re unable to work and their income reduces due to illness or injury.
Product overview
Policy details
Basis: Single
Premiums: Guaranteed
Pay outs: Weekly or monthly amount
Type of cover: Level Cover, Increasing Cover (CPIH)
Minimum age at entry: 18
Maximum age at entry: Age 59
Maximum age at end of term: 70 (this may be lower for some jobs)
Minimum cover amount: £2,500 a year
Maximum cover amount: Up to £250,000 a year
Key Product Features
Own job definition: Pays out if your client can’t do their actual job
Premium Waiver: Comes as standard with every policy
Wide choice of cover options: Full-term or 2-year cover, with deferred periods from 4 to 52 weeks
Optional Children’s Critical Illness Protection: Can be added to adult cover anytime
£1,500 minimum cover guarantee: Protects clients if their earnings fall before they claim
Lifestyle promise: We may be able to reduce premiums if they were paying an increased amount and they subsequently stop smoking, change job or give up activities
Up to 65% of annual earnings covered: A maximum of 65% of annual earnings covered up to £60,000, 50% of annual earnings over £60,000 and up to £100,000, and 45% of annual earnings over £100,000
Additional Services
HALO: Access to tailored medical and legal support at the point of claim
Anytime: At no extra cost access to a GP 24/7, second medical opinions, wellbeing and aches and pains consultations at any time
HALO and Guardian Anytime don’t form part of your client’s contract with us, and we can change or remove the benefits included at any time.
INCOME PROTECTION LIMITS
5 to 52 years
18 to 59
70 (this may be lower for some jobs)
Up to £250,000 a year
Non-medical Limits
| Requirement levels | Up to age 40 | Age 41-50 | Age 51-60 |
|---|---|---|---|
| None | Up to £50,000 (£4,166 a month) | Up to £40,000 (£3,333 a month) | Up to £15,000 (£1,250 a month) |
| Level A | £50,001 to £75,000 (£6,250 a month) | Not applicable | Not applicable |
| Level B | Not applicable | £40,001 to £55,000 (£4,583 a month) | £15,001 to £25,000 (£2,083 a month) |
| Level C | £75,001 to £90,000 (£7,500 a month) | £55,001 to £65,000 ( £5,416 a month) | £25,001 to £35,000 ( £2,916 a month) |
| Level D | £90,001 to £120,000 (£10,000 a month) | £65,001 to £100,000 (£8,333 a month) | £35,001 to £45,000 (£3,750 a month) |
| Level E | Not applicable | £100,001 to £120,000 (£10,000 a month) | £45,001 to £120,000 (£10,000 a month) |
| Level F | £120,001 up | £120,001 up | £120,001 up |
Requirement levels
| None | Up to £50,000 (£4,166 a month) |
|---|---|
| Level A | £50,001 to £75,000 (£6,250 a month) |
| Level B | Not applicable |
| Level C | £75,001 to £90,000 (£7,500 a month) |
| Level D | £90,001 to £120,000 (£10,000 a month) |
| Level E | Not applicable |
| Level F | £120,001 up |
| None | Up to £40,000 (£3,333 a month) |
|---|---|
| Level A | Not applicable |
| Level B | £40,001 to £55,000 (£4,583 a month) |
| Level C | £55,001 to £65,000 ( £5,416 a month) |
| Level D | £65,001 to £100,000 (£8,333 a month) |
| Level E | £100,001 to £120,000 (£10,000 a month) |
| Level F | £120,001 up |
| None | Up to £15,000 (£1,250 a month) |
|---|---|
| Level A | Not applicable |
| Level B | £15,001 to £25,000 (£2,083 a month) |
| Level C | £25,001 to £35,000 ( £2,916 a month) |
| Level D | £35,001 to £45,000 (£3,750 a month) |
| Level E | £45,001 to £120,000 (£10,000 a month) |
| Level F | £120,001 up |
Medical underwriting limits
| Level A | Nurse screening + blood test 1 |
|---|---|
| Level B | Nurse screening + blood test 1 + general practitioner's report |
| Level C | Nurse screening + blood test 2 + general practitioner's report |
| Level D | Medical examination report + blood test 2 + general practitioner's report |
| Level E | Medical examination report + blood test 2 + general practitioner’s report + NT-Pro BNP blood test |
| Level F | Medical examination report + blood test 2 + HIV + general practitioner’s report + NT-Pro BNP blood test |
| Level A | Nurse screening + blood test 1 |
|---|---|
| Level B | Nurse screening + blood test 1 + general practitioner's report |
| Level C | Nurse screening + blood test 2 + general practitioner's report |
| Level D | Medical examination report + blood test 2 + general practitioner's report |
| Level E | Medical examination report + blood test 2 + general practitioner’s report + NT-Pro BNP blood test |
| Level F | Medical examination report + blood test 2 + HIV + general practitioner’s report + NT-Pro BNP blood test |
- Cotinine tests included with all nurse screenings and medical examinations for non-smokers
- Blood test 1 – Biochemistry & HbA1c
- Blood test 2 – Biochemistry, haematology & HbA1c
Financial evidence limits
| Evidence required (self-employed only) | Limit |
|---|---|
| None | Up to £150,000 (£12,500 a month) |
| Financial questionnaire | Over £150,000 (£12,500 a month) |
Evidence required (self-employed only)
| None | Up to £150,000 (£12,500 a month) |
|---|---|
| Financial questionnaire | Over £150,000 (£12,500 a month) |
Smoking categories
A smoker is someone who has used a tobacco product or nicotine replacement product such as e-cigarettes.
We have 3 categories for smoking-related premiums:
- Current user
- No usage in the last 12 months
- No usage in the last 5 years
If your client was a smoker and stop smoking or stop using tobacco or replacement products for a period of 12 months, we’ll reassess their cover and may be able to reduce their premium accordingly. We’ll also reassess their cover after they’ve stopped for 5 years and may be able to reduce their premiums further if you contact us to confirm.
Body Mass Index (BMI) Limits
The tables below show the premium rating we’ll apply to your clients Income Protection policy for their BMI.
Please note these are just the ratings for BMI and other factors are taken into account when underwriting for build, for example pregnancy, body shape or unexplained weight loss. Our underwriters may ask for further information in those situations which might lead to a different decision. If you’d like more information before you submit an application call us on 0808 133 1821.
| BMI minimumBMI min | BMI maximumBMI max | Expected |
|---|---|---|
| up to | 16.999 | Decline |
| 17 | 17.999 | Standard* |
| 18 | 29.999 | Standard |
| 30 | 32.999 | 25% rating |
| 33 | 34.999 | 50% rating |
| 35 | 37.999 | 75% rating |
| 38 | 53.999 | Decline |
* We may ask for medical evidence.
| BMI minimumBMI min | BMI maximumBMI max | Expected |
|---|---|---|
| up to | 16.999 | Decline |
| 17 | 17.999 | Standard* |
| 18 | 30.999 | Standard |
| 31 | 33.999 | 25% rating |
| 34 | 36.999 | 50% rating |
| 37 | 38.999 | 75% rating |
| 39 | 53.999 | Decline |
* We may ask for medical evidence.
| BMI minimumBMI min | BMI maximumBMI max | Expected |
|---|---|---|
| up to | 16.999 | Decline |
| 17 | 17.999 | Standard* |
| 18 | 32.999 | Standard |
| 33 | 35.999 | 25% rating |
| 36 | 37.999 | 50% rating |
| 38 | 39.999 | 75% rating |
| 40 | 53.999 | Decline |
* We may ask for medical evidence.
