Low Start Income Protection

Low-start income protection premiums start lower and increase each year with age. The insurance cover is designed for those who want to help protect against a loss of income, if unable to work due to incapacity caused by illness or injury, while covered by the plan.

Low Start Income Protection

Just like the Income Protection Benefit if you are unable to work due to incapacity caused by illness or injury, this insurance product helps to protect against a loss of income, while covered by the plan.With the Low Start Income Protection however, the premiums you pay start lower and increase each year with age.

What options are available?

You can choose the type of cover for your policy based on your needs. There are three options to choose from.

  • Increasing Income Protection Benefit

This helps protect the monthly benefit against changes in inflation.

  • Low Cost option

This helps to reduce the cost of the plan, and includes the option that the benefit can be paid out for one or two years for each individual claim .

  • Stepped Benefit

This provides two deferred periods, and two different monthly benefits, all within one plan.

What are the details?
  • inimum cover: No minimum monthly benefit. Driven by minimum premium.
  • Maximum cover: £120,000 per year (£10,000 per month). £84,000 per year (£7,000 per month) if increasing cover is chosen. £20,000 per year (£1,666.67 a month) if considered a houseperson – working less than 16 hours per week.
  • Type of cover: Level and increasing cover available. Increasing cover increases in line with the changes in the Retail Prices Index up to a maximum of 10% of current monthly benefit and the premium increases in line with the change in the Retail Prices Index multiplied by 1.5 subject to a maximum increase of 15% per year. Only available as a single life plan.
  • Minimum term: 10 years if 40 or over when take out the policy
  • Maximum term: Depends on the age of the client when the policy ends. The policy must end after the client’s 50th birthday but before their 70th birthday or their planned retirement date, whichever is earlier. For some occupations, we may restrict the maximum age of the client at the end of the plan.
  • Minimum age: 18 to buy a plan. 
  • Maximum age: The day before 60th birthday to buy a plan. Policy must end by the client’s 70th birthday. For some occupations, we may restrict the maximum age of the client at the end of the plan.
  • Premiums: Guaranteed. Payable monthly by Direct Debit.

What are the benefits and options?

Deferred Period:

You can choose from 4, 8, 13, 26 or 52 weeks.

Stepped Benefit:

Optional. Two levels of benefit can be chosen with two different deferred periods. Not available with the Low Cost Option.

Low Cost Option:

Optional. The benefit for any individual claim is limited to 12 or 24 months, depending on which option is chosen. Not available with Stepped Benefit.

Continuous Cover:

Automatically included.

Hospitalisation Benefit:

 Automatically included.

Income Guarantee:

Automatically included.

Increasing cover:

Increasing cover is available.

Waiver of Premium:

 Automatically included.

Linked Claims:

Automatically included.

Proportionate Benefit:

Automatically included.

Wellbeing Support:

 Access to dedicated specialist nurses. This service is available from the day the policy starts and is provided by Red Arc Assured Limited.

Rehabilitation Support Service:

 Automatically included at the point of claim, provides back to work support, for mental and physical health

Fracture Cover:

Optional benefit 

Private Diagnostics:

Optional benefit 

Changing Your Policy (Also known as Guaranteed Insurability Option):

Can increase cover on certain specified events, without need for further medical evidence. Eligibility criteria and restrictions apply.

It is worth noting that Income Protection Benefit is not a savings or investment product and has no cash value unless a valid claim is made. This product does not include unemployment cover and therefore will not pay out if you become unemployed. The monthly benefit from this plan may affect your claim to benefits paid out under other income protection plans.


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