What is Lifestyle Protection Insurance?
i:protect Lifestyle Protection Insurance is designed to pay a proportion of your income in the event that you are off work through accident, sickness or involuntary unemployment.
Levels of Cover
i:protect Lifestyle Protection Insurance can be tailored to protect up to 65% of your gross monthly income (your pay before tax) or £1,500, whichever is the lesser amount. Benefit Payments can be paid for up to 12 months for any one claim. You decide whether you would like full accident, sickness and unemployment cover or just accident and sickness cover only.
Flexible Excess Periods
Flexible Excess periods mean you can choose when your benefit is paid from. So you can set your accident and sickness payments to kick in when your sick pay from work ceases and select your unemployment benefits to kick in when your payment in lieu runs out. This level of flexibility means that your i:protect Lifestyle Protection Insurance premiums can often be made cheaper by simply tailoring your benefit payments for when you need them most.
Back to Work Services
i:protect Lifestyle Protection Insurance comes with a free, independent and confidential back to work advice service that can be used in the unfortunate event that you need to make an unemployment claim. You or your immediate family (in the same household) can utilise the following services:
- CV Preparation
- Letters of Application
- Sourcing Vacancies (Access to the National Jobs Database)
- Interview Techniques
- Self-Employment Advice
Eligibility Criteria
i:protect Lifestyle Protection Insurance is suitable for anyone aged 18 to 65 who has been an employee or self employed for at least 16 hours per week and has been working continuously in permanent employment for at least the last 6 months.
Carer Cover is only available if you select the accident sickness and unemployment cover option. If you become a carer after taking out your policy you can claim for a single amount equal to your monthly benefit times the maximum benefit period as shown on your insurance schedule. (This is a brief over view full details of this cover are detailed on page 8 of the policy)
Payment of Carer cover benefit is subject to:-
- You providing a letter from the doctor of the member of your immediate family to confirm the nature, start date and diagnosis of the condition suffered.
- If you were employed prior to becoming a carer, we write to your former employer to confirm that you did not leave your employment for reasons other than to become a carer. Or if you are a self-employed business owner, you will need to provide evidence that your business ceased to trade because you became a carer.
- You must provide the Community Care Assessment of the needs of the member of your immediate family and your Carer’s Assessment.
Lifestyle Protection Insurance much more cover than just Redundancy Insurance