Income protection

Question 1

House persons cover?

Answer 1

Someone who is not in paid occupation.

Max benefit is £1,300 per month or £15,600 per annum.

Question 2

What is a deferred period?

Answer 2

Payment of a claim starts at the end of one of the following differed periods.

1 month, 2 months, 3 months, 6 months, 12 months, 24 months.

Question 3

How long are benefits paid for?

Answer 3

Whichever comes first;

• they no longer meet the definition of incapacity.
• the cover reaches its end date.
• the end of the limited benefit period.
• the death of the member

Question 4

Premium waiver for income protection works how?

Answer 4

Included in the premium and will start paying the premium after a three month deferred period, unless a shorter deferred period has been chosen.