Holloway : Purely IP

Product profile

Description 

Pays a regular income when unable to work due to illness or accident.

For

• Age 18 to 54 who are ten or more years away from retirement

• Self-employed and employees

Maximum amount payable

• £26,000 a year

• £500 a week

• 50% of gross income

Basis of cover 

• 'Own Occupation' definition of incapacity for 24 months changing to the tighter ‘suited’ thereafter

Benefits  

• You choose the monthly amount

• Premium does not depend on gender, occupation or smoking

• Premium based on age

• Premium guaranteed for the life of the policy

• Benefit payments remain constant throughout the claim.

• No investment element

• Guaranteed premiums

• Waiver of premium after 52 weeks of benefit payment

• Proportionate benefit for return to lower paid work

• Rehabilitation benefit for partial return to work

• Terminal illness

• Medical expenses

• Career break  and premium holiday

Options 

• Deferred period; 4/13/26/52 weeks

• Retirement age; 50 to 65

• Level or escalating benefit

 
Last updated: 20 October 2011