The Co-operative Insurance : Expenditure Protection Plan

Product profile

Description 

Pays a  tax-free monthly benefit to help pay your main bills, such as your mortgage, council tax and utility bills, if you can't work due to illness or injury

For

• Aged 18 to 59

• Employees, self employed,part-time workers,  and housepersons

• All at least 5 years away from retirement

Maximum amount payable

• 50% of earnings

• Five times mortgage and related outgoings

• £175000 a year

• You can still receive state benefits

Basis of cover

• Normal occupation

• Minimum cover period 5 years

• Reduced benefit for return to part time or less well- paid work

• Limited cover for those not in full time work

• Reviewable premium

Benefits

• You choose the amount

• No need to advise change of occupation

• Rehabilitation service

• Waiver of premium while benefits being paid

• Guaranteed option to amend cover on specified special occasions

• CareerBreak

• Cover whilst not in occupation

• 24/7 legal helpline and free legal advice

Options

• Deferred period; 4/8/13/26/52 weeks

• Retirement age ; up to 65

Last updated: 15 July 2008