Income insurance

(This product is only available to existing bank customers)

What is income insurance?

Income Insurance is underwritten by U K Insurance Limited.

In the event of an accident or sickness that prevents you from working, you become involuntarily unemployed or you give up work to become a carer for an immediate family member we will pay you an agreed benefit amount each month that you are not working.

If you are diagnosed with a major illness and will be unable to return to work for 24 months, we will pay you a lump sum of 24 monthly benefits.

The maximum monthly insurable amount you can cover is 90% of your net monthly salary or £2,000, whichever is lower.

Benefits

Provides a replacement income sum if you're unable to work as a consequence of accident, sickness, major illness or involuntary unemployment.

• Up to 12 monthly payments in the event of accident, sickness and unemployment, or carer claim
• Lump sum payment of up to 24 monthly benefits in the case of defined major illnesses
• Immediate major illness cover (Excludes cover in respect of medical conditions that have been treated in the preceding 12 months)
• Includes cover for psychological illness, including stress (restricted to three monthly benefits unless you are under the care of a specialist)
• Includes cover for back related conditions (restricted to three monthly benefits unless your GP / specialist can provide scan evidence of abnormal findings)
• Claim form free - we will do any paper chasing (i.e. medical certificates) on the customer’s behalf
• Guaranteed acceptance to eligible customers –other providers underwrite after point of sale
• We won't increase premium just because you’ve made a claim
• No maximum age limit as long as the customer is employed and meets the eligibility criteria
• Can be cancelled at any time without penalty – if claim in progress we will honour remainder of claim

The cost of this insurance depends on a number of factors, such as your age, where you live and your occupation. As a result, the cost you will pay is based on your own circumstances.

Our Income Insurance typically costs £3.50 a month for every £100 of monthly benefit. This is based on a non-smoking customer, aged 25, who works in the finance & professional sector.

Typical examples of costs can be found in the table below:

Your personalised quotation will be based on your individual circumstances such as your age, occupation, postcode and use of tobacco.

There are other providers of Short Term Income Protection and other products designed to protect you against loss of income. For impartial advice about this type of insurance, please visit www.moneyadviceservice.org.uk

• Please read this important legal information