Pioneer: Income Protection

• Aged 16 to 54 who are five or more years away from retirement
• The self-employed and employees
• Housepersons

Not for

• Armed forces personnel
• Divers
• Underground Miners
• Oil rig workers
• Professional or semi-professional sports persons
• Nightclub security personnel
• Police officers
• Firefighters
• Pilots and flight crew
• Riding instructors
• Money brokers
• Stock brokers

Maximum amount payable

• Depends on amount selected
• Maximum benefit 65% of taxable income

• Day one basis
• Pays full cover for period of plan
• Normal occupation but reverts to any occupation after 52 weeks benefit
• Reduced cover for Housepersons
• Must advise change of occupation
• Reduced benefit for partial return to work
• Premiums increase each year with age
• Cover during unemployment

Benefits

• You choose the monthly amount
• Premium does not depend on sex, occupation or smoking
• Can increase benefits at any time
• Tax free cash at retirement
• Bonuses after 3 years
• Waiver of premium
• Early death benefit
• Health Claims Advisory Service

Options

• Deferred period; 0/4/8/13/26/52weeks
• Can split cover between two different deferred periods
• Retirement age ; chose between 50 and 65
• Index linking
• Career break