DG Mutual : Classic Double Share Scheme

Product profile

Description 

Long-term income protection, paying a regular weekly income when unable to work due to illness or injury

Age

• 16 to 55

Maximum amount payable

• 66% of pre-tax earnings

Basis of cover

In order to claim you must be totally unable to perform the essential duties of your occupation and of any other occupation suited by training, education, or experience, and not be following any other occupation for profit or reward.

Full benefit paid for 26 weeks and after that it reduces to 50% of benefit and to 30% after a second sixth months.

Benefits 

• You choose the weekly amount

• Premium is not loaded for occupation, smoking or miles driven

• Tax free lump sum at end of policy

• Payable until retirement, recovery or death

• Proportionate benefit for partial return to work

Not covered

• Pre-existing conditions

• Disorderly conduct

• Wilful self inflicted injury

• Pregnancy

• Hazardous pursuits

• Sterilisation other than on medical grounds

• Any surgery or treatment certified to be necessary on health grounds

• Flying other than as a fare paying passenger on a recognised air route

• AIDS or HIV and any related conditions

Options

• Three levels of benefit

• Retirement ages of 60 or 65

• Double Bond option – benefit levels are unchanged but additional subscriptions will double the amount of bonus apportionment awarded annually

 
Last updated: 22 February 2011