Income protection plan - key features

1. Who is eligible for cover under this Income protection plan?

You are eligible for cover under this Income protection plan policy if you satisfy the following criteria:

• you are aged between 18 and 64 and are permanently resident and working within the UK, Channel Islands or Isle of Man and eligible to receive Jobseeker’s Allowance,
  
  
• you are actively working for more than 20 hours per week and have been in continuous employment for more than six months before the insurance start date. You cannot obtain this insurance if you work in temporary or seasonal employment,
  
  
• you are in good health and know of no impending disability,
  
  
• you are not aware that you could become unemployed.

2. When can you make a claim under this Income protection plan?

You can make a claim under this Income protection plan at any time during the period of insurance providing you notify us as soon as reasonably possible. However, there is a period of 120 days immediately following the insurance start date during which any occurrence or notification of impending unemployment will not be insured. This is known as the initial exclusion period and includes any period of consultation even though unemployment may not take place until after this period.

3. When do you receive your first benefit payment?

Subject to the provisions of section 2, if you are working and become unemployed, or if you are unable to work due to accident or sickness for a period of 30 days we will pay you one monthly benefit. Thereafter payments will continue monthly in arrears until the earliest of the following events:

• the last consecutive day that you remain unemployed or disabled,
  
• the date you cease to provide evidence that you remain continuously unemployed or disabled. Evidence will be a completed claim form, Jobseeker’s Allowance and a job search diary with supporting evidence of you actively looking for work,
  
• the date on which you have received maximum benefit payments for any separate period of claim,
  
• the finishing date of this Income protection plan.
  

4. How long are claim benefits paid for?

Claim benefits are payable for up to a maximum of 12 months for any separate unemployment or disability claim under this Income protection plan. Once you return to work you need to stay in work for another 180 days before you can claim again.

5. What is the maximum cover you can have?

The amount of cover you select is known as the monthly benefit. The maximum monthly benefit available, under this Income protection plan is £1,000 or 50% of gross monthly income* whichever is the lower, less any other form of income but excluding State Benefits.

In addition, the maximum monthly benefit allowed under all similar insurances (including this Income protection plan) is 50% of gross monthly income* less any other form of income including payment in lieu of notice and employers sick pay but excluding State Benefits.

All benefits over 50% of gross monthly income* will be deducted in the event of a claim.

Example: If your gross monthly income is £3,000, the maximum monthly benefit under this Income protection plan is £1,000. The maximum monthly benefit from all insurance providers (including this Income protection plan) is £1,500.

*Gross monthly income means monthly salary plus the average of any overtime, commission and/or bonus payments received in the 12 months prior to the insurance start date or the date of a claim if later.

6. What are the costs of cover?

The costs of cover are expressed as a rate per £100 of monthly benefit and include insurance premium tax.

Click to get an instant quote for the cover you require

7. Direct Debit Guarantee

This guarantee is offered by all banks and building societies that take part in the direct debit scheme. The efficiency and security of the scheme is monitored and protected by your own bank or building society.

If the amounts to be paid or the payment dates change, Adminicle Limited will notify you ten working days in advance of your account being debited or as otherwise agreed.

If an error is made by Adminicle Limited or your bank or building society, you are guaranteed a full and immediate refund from your branch of the amount paid.

You can cancel a direct debit at any time by writing to your bank or building society. Please also send a copy of your letter to us.

You should retain this guarantee for future reference.

8. Complaints procedure

We always try to provide a first-class standard of service. However, if you have a complaint, you should contact the Administrators: Adminicle Limited, Callidus House, Cirencester Business Park, Love Lane, Cirencester GL7 1XD.

If the matter still remains unresolved thereafter you can then write to the Insurers at: Special Risks Division, NIG, Crown House, 145 City Road, London, EC1V 1LP quoting the policy number and where the Insurance was purchased. NIG is a member of the General Insurance Standards Council (GISC) and the Association of British Insurers (ABI).

Finally, if the matter still remains unresolved, once all the above have been contacted, you can then approach:

Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14 9SR.

9. Rights of cancellation

You may cancel this Income protection plan at any time. If you cancel within 14 days of the start date, you will be entitled to a full refund of any premiums paid, unless you have made a claim. Underwriters can cancel your cover by giving you 30 days written notice and will return any unused premium. This will not affect your ability to make a claim that occurs before the cancellation date.

10. Who provides this Income protection plan

This Income protection plan is administered by Adminicle Limited on behalf of The National Insurance & Guarantee Corporation (NIG) who are members of The General Insurance Standards Council.

11. Arranging cover under this Income protection plan policy

Click here to apply for cover online.

If you would like an instant quote to find out how much the cover you require will cost please click here.